Summary
NATIONAL Australia Bank warned yesterday that the losses racked up by four rogue currency traders could potentially cost the group more than three times the AUS dollars 180 million (GBP 76 million) it originally estimated.
Following "detailed work" conducted in the wake of last week's revelations, NAB - Clydesdale Bank's parent company - said its estimates for the pre-tax losses made on the "fictitious trades" had already been upped to dollars 185m (GBP 78m).See the full content of this document
Extract
Nab Currency Losses Could Be Triple Estimates
But chief executive Frank Cicutto added that there was a "very low probability" that the losses ...
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