Tuesday, April 28, 2009

NAB provisions – back to the future


Chalk another one up to the men in grey.  Amidst all the talk of the huge increases in NAB’s bad and doubtful debt provisioning, bear in mind that it’s just getting back to where it was before the bean counters decided that provisions were evil and may lead to the dreaded profit smoothing.  They must be thrilled to bits with the volatility now apparent in bank reported earnings.

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