Bad Debt Hits Australian Banks

Wednesday, December 2, 2009
Australia's biggest lender, National Australia Bank, Mark Joiner said the country had been relatively protected from the financial industry meltdown abroad. The country's biggest lender's, National Australia Bank, bad debt charges rose two and a half times to almost $1.3 billion in the first half, partly due to its involvement in the troubled UK banking sector. Australia's fourth biggest bank reported a bigger than-expected 43 percent in half-year profit with large exposures in Asia. ...



http://www.youtube.com/watch?v=_SaS-9ycPMc&hl=en

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