National Australia Bank has written off a further A$22 million against its troubled Integrated Systems Implementation (ISI) project in the half-year to March 2004.
The ISI project, designed to introduce a consolidated enterprise resource planning system across all lines of business at the group, has suffered from cost over-runs and implementation problems. The bank sacked its partner Deloitte Consulting in February 2002 amid damaging public wrangling over unpaid bills.
The latest write down brings total charges aginst ISI to A$55 million, although the bank claims the project is back on track, with implementation completed in New Zealand, and roll-out commencing across Australia and Europe.
Other big ticket projects, including the Amazon advisor wealth management project and the National Leads customer relationship management programme, are on target says the bank.