National Australia Bank

Second trader gets jail term

A second currency trader has been jailed for his role in a multi-million dollar foreign exchange scandal at National Australia Bank.

Gianni Gray was given a 16-month sentence by the Victorian County Court for what was described as a “calculated and sophisticated fraud”.

The bank lost 252m Australian dollars (£105m; $181m) three years ago after rogue trades by four members of staff

NAB profits tumble after scandal

National Australia Bank, the country’s biggest lender, has seen its profits slump following a trading scandal.

Increased competition and rising costs have also taken their toll, producing what boss John Stewart called a “poor and unacceptable result”.

Profit in the six months through 30 September was 1

NAB rebel head quits amid scandal

National Australia Bank director, Catherine Walter, has decided to quit in the aftermath of a trading scandal after originally refusing to step down.

“I have tried to stand up for what I believe is in the long term interests of the bank,” she said in a statement.

Ms Walter claimed she was made a scapegoat for 252m Australian dollars (£104m; $188m) in losses on unauthorised foreign exchange trades