Published: November 06, 2019
Management will get no short-term bonuses or pay rise, with customers owed $1.1bn as a result of scandals exposed by commission
NAB has wound up a traumatic 12 months in which it lost its chief executive and chairman by announcing a 10.6% drop in full-year profit and cutting its final dividend.
The bank’s full-year results on Thursday also showed that the lender will have to pay $1.1bn back to customers in compensation resulting from a range of mis-selling and misconduct scandals exposed by the banking royal commission.
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