August 13, 2019 / 10:14 PM / 5 days ago

National Australia Bank 3rd-qtr profit flat, flags added remediation costs

Aug 14 (Reuters) - National Australia Bank on Wednesday reported flat third-quarter cash profit growth, and flagged that it would incur additional customer remediation-related expenses in the second half of fiscal 2019.

Australia’s No. 3 lender by market value posted cash earnings of A$1.65 billion ($1.12 billion) for the three months ended June 30, same as last year. The cash profit figure excludes one-offs and non-cash accounting items. ($1 = 1.4712 Australian dollars) (Reporting by Aby Jose Koilparambil in Bengaluru)

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