Morningstar

National Australia Bank Adds $215 Million in Iran-Driven Credit Provisions

Provided by Dow Jones

By Stuart Condie 




  SYDNEY--National Australia Bank raised its first-half credit provisioning by more than US$215 million due to the potential impact of the Iran conflict on Australia's economy and businesses. 



  Australia's third-largest bank by market capitalization on Monday said it expected to report collective provisions for the six months through March of 706 million Australian dollars, equivalent to US$506.3 million. 



  NAB, which has an outsized exposure to business banking, said it would raise forward-looking provisioning related to the Australian economy by A$152 million. 



  It will also set aside A$201 million in additional provisions to cover sectors most likely to be exposed to stress from fuel supply constraints and cost increases. The increase was offset by a A$53 million provision release. 



  NAB said it would record a one-off accelerated amortization charge of A$1.35 billion after changing its software capitalization policy to reflect what it said was a rapidly evolving technology environment. It will fully write off some assets. 



  NAB will report its fiscal first-half results on May 5. 





  Write to Stuart Condie at stuart.condie@wsj.com 





  (END) Dow Jones Newswires



  April 19, 2026 18:47 ET (22:47 GMT)


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