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National Australia Bank says deposit costs soared

SYDNEY
Tue Oct 21, 2008 3:02am EDT

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SYDNEY (Reuters) - The cost of servicing bank deposits has skyrocketed in Australia, the nation's top lender, National Australia Bank (NAB.AX), said on Tuesday, noting that these costs would continue to remain high into 2009.

A senior executive made the comment in a briefing on the bank's second-half results.

($1=A$1.42)

(Reporting by Mette Fraende; Editing by Mark Bendeich)


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