FILE NO 1-9945
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON DC 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or
15d-16 of
the Securities Exchange Act of 1934
For the month of January 2004
National Australia Bank Limited
ACN 004 044 937
(Registrant’s Name)
Level 24
500 Bourke Street
MELBOURNE VICTORIA 3000
AUSTRALIA
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
|
Form 20-F ý |
Form 40-F o |
|
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
|
Yes o |
No ý |
|
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82 -
This Report on Form 6-K shall be deemed to be incorporated by reference in the prospectus included in the Registration Statement on Form F-3 (No. 333-6632) of National Australia Bank Limited and to be part thereof from the date on which this Report, is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
|
|
|
Group Corporate Affairs |
|
|
|
|
|
ASX Announcement |
|
500 Bourke Street |
Melbourne, Monday 19th January 2004
Update on unauthorised foreign currency trading investigations
Since its initial announcement on 13 January 2004, the National Australia Bank has progressed its internal investigations into unauthorised foreign currency options trading.
Our detailed work on the unauthorised trading has confirmed that the pre-tax loss arising from the removal of fictitious trades from the foreign currency options portfolio is A$185 million - slightly above our original estimate of A$180 million.
The Chief Executive of the National, Mr Frank Cicutto, said foreign currency options will continue to be a part of our Markets business.
“In view of the unauthorised activity that has occurred in this portfolio, the National is undertaking a market revaluation of the remaining portfolio to ensure it conforms with our policies,” Mr Cicutto said.
“Our initial view indicates that this revaluation will lead to additional losses. Based on our work to date, there is a very low probability that the total losses will be as high as market speculation of A$600 million. We expect to provide a further update on this matter by the end of the week.”
The Chairman of the National, Mr Charles Allen, said the Board of Directors had been updated on the investigations.
“Following the outcomes of the investigations we will take whatever action is necessary to ensure that investors, customers and staff have full confidence in the National,” Mr Allen said.
For further information, please contact:
Robert Hadler
Group Corporate Affairs
03 8641 3876
0404 805 675
or visit www.nabgroup.com
2
SIGNATURE PAGE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.
|
|
|
NATIONAL AUSTRALIA BANK LIMITED |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Susan E Crook |
|
|
Date: 19 January 2004 |
|
Title: Associate Company Secretary |
|
3