By @iTnews_au
Publication Date: 2026-05-04 07:30:00
NAB has reduced the value and useful life of its capitalized software assets, in part because AI now makes it possible to create or replicate software quickly and cost-effectively.
Due to the change in software capitalization policy, the bank suffered a loss of $1.3 billion in its underlying profit and $949 million in its cash income in the first half of fiscal 2026.
Financial analysts said it was the third such policy change in seven years.
Group CEO Andrew Irvine attributed the recent changes to “the rapidly changing technology environment” and in particular the impact that AI is having on software…
