April 18 (Reuters) - National Australia Bank Ltd NAB.AX :
* NAB ANNOUNCES ADDITIONAL COSTS FOR CUSTOMER REMEDIATION MATTERS
* ADDITIONAL CHARGES OF $525 MILLION AFTER TAX IN CONNECTION WITH INCREASED PROVISIONS FOR ITS CUSTOMER-RELATED REMEDIATION PROGRAM
* EXPECTED TO REDUCE 1H19 CASH EARNINGS BY AN ESTIMATED $325 MILLION AND EARNINGS FROM DISCONTINUED OPERATIONS BY AN ESTIMATED $200 MILLION
* OF 1H19 CHARGES, APPROXIMATELY 91% ARE FOR WEALTH RELATED MATTERS, WITH REMAINDER FOR BANKING
* SINCE JUNE 2018, CO MADE ABOUT 360,000 PAYMENTS TO CUSTOMERS WITH A TOTAL VALUE OF ABOUT $145 MILLION
* THERE ARE NOW AROUND 350 PEOPLE DEDICATED TO REMEDIATING CUSTOMERS; WILL SOON HAVE AROUND 500 ACROSS NAB FOR THE PURPOSE