US EditionNAB flags $130m hit from ‘payroll issues’, including wage underpayments
National Australia Bank expects payroll underpayments to cost $130 million in the 2025 financial year amid ongoing remediation efforts, despite reporting a 2% rise in underlying profits.
- Amid payroll issues, National Australia Bank flagged a $130 million impact to identify, rectify, and remediate staff underpayments this financial year.
- Following system audits, the ongoing 2019 payroll review uncovered underpayments and prompted investment in payroll platforms, NAB said.
- Expecting a 4.5% expense increase, NAB reports total remediation costs remain uncertain, according to its ASX announcement.
- At market open Monday, NAB
shares traded at $39.77, up 1.5%, after Sarah White, NAB , apologized and said remediation has started. - Ahead of full-year results on November 6, NAB noted its CET1 ratio increased to 12.14% at June 2025, with CEO Irvine remaining optimistic about long-term growth.
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Total News Sources18
Leaning Left4Leaning Right6Center1Last UpdatedBias Distribution55% Right
Bias Distribution
- 55% of the sources lean Right
55% Right
L 36%
R 55%
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