NAB revises FX options losses to A$360 million

The revised figure follows a revaluation of the bank’s entire forex options portfolio, which revealed a further A$175 million loss on top of the A$185 million announced last week. This means NAB will post after tax losses of A$252 million. The bank had initially estimated the pre-tax loss to be A$180 million.

“We have worked as quickly as possible to identify all of the losses arising from the foreign currency options trading accurately,” said NAB chief executive Frank Cicutto, adding that an

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