NAB set up committee to consider Walter proposals

National Australia Bank (NAB) has said its board has approved a plan to set up a committee to manage the bank's proposed extraordinary general meeting (EGM) and consider resolutions submitted by board member Catherine Walter.

Last week, the bank's non-executive directors called for the removal of Walter from the board, saying they had lost confidence in her after her criticism over the independence of a PricewaterhouseCoopers report into the rogue trading scandal which cost the bank A$360m (€223.3m).