NAB expects credit impairment charges to double to A$706m
NAB expects credit impairment charges to double to A$706 million as the Iran war impacts energy costs. The bank is raising provisions for vulnerable sectors.
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NATIONAL AUSTRALIA BANK LTD has announced that it expects credit impairment charges to double to A$706 million ($503 million) in the first half of the year as the conflict in Iran continues to disrupt the global economy and financial markets. As the first major lender in Australia to quantify the financial impact of the eight-week-old war, the bank cited a rising likelihood of a domestic economic downside scenario.
