NAB repaying investment customers

NATIONAL Australia Bank's wealth management business is again repaying customers hit by errors in its allocation of investment income.

Errors in NAB Wealth's operations between 2006 and 2012 were originally identified in December 2012, resulting in compensation worth $1.9 million being paid to about 43,000 customers.

The bank has now identified errors in that compensation process, that left some customers still out of pocket, and will pay more compensation.

The corporate regulator said the amount to paid will be less than the original $1.9 million in compensation.

NAB said it was working to improve its operating platform to prevent future errors.

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