Shares of National Australia Bank Rise Despite Nearly AU$16 Million Civil Penalty

MT Newswires Live

2025/08/14

Shares of National Australia Bank (ASX:NAB) rose Thursday after it said in a late Wednesday Australian bourse filing that it had been ordered to pay a AU$15.5 million civil penalty over admitted breaches of the National Consumer Credit Protection Act.

The company's shares rose around 2% in recent trade.

The federal court issued the penalty following proceedings initiated by the Australian Securities and Investments Commission against NAB and its subsidiary, AFSH Nominees, the filing said.

The case concerned NAB and its unit's failure to issue timely written responses to 345 customer hardship notices lodged between October 2018 and September 2023 in breach of their legal obligations, the filing added.

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