National Australia Bank's 2019 full year results include the revelation that its customer remediation team has ballooned to 950 people.
NAB chief executive Philip Chronican said in a statement that the team of 950 dedicated to remediating customers recognised an additional $1.1 billion of remediation costs in 2019.
Cash earnings for financial year 2019 were 10.6% lower than the previous year for NAB.
"A gap remains between where we are today and where we need to be for customers, but we are making progress and will execute with urgency, discipline and accountability to become the bank we can all be proud of," Chronican said.
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The NAB executive leadership team will receive no short-term variable reward and no fixed remuneration increases for the year.
"We recognise the impact on our brand, reputation and the trust that our customers place in us. These are all considerations we make when assessing performance. While we have made progress, it is not enough to be recognised in executive short-term variable reward in 2019," Chronican said.
The maximum short-term variable reward opportunity for the executive leadership was $14.4 million and the target was $9.6 million.
Former chief executive Andrew Thorburn forfeited his deferred variable reward, worth up to $21 million, when he resigned in February.
NAB board directors also had their fees cut by 20% following the resignation of chair Ken Henry.
NAB will release a remuneration report next week which is expected to demonstrate substantial changes to the executive leadership team's remuneration framework.
As for NAB's wealth business, revenue was down from $994 million in 2018 to$881 million in 2019.
The results acknowledged NAB's new advice model, saying that it has reduced risk and improved the sustainability of the offer while supporting simplified client segment solutions.
Commenting on NAB's results, Moody's vice president Frank Mirenzi said: "We expect margins and earnings will remain under pressure in fiscal 2020, especially in consumer banking, as lower lending interest rates and low credit growth are likely to further dent group revenue and profits."