National Australia Bank
National Australia Bank (abbreviated NAB, branded nab) is one of the four largest financial institutions in Australia in terms of market capitalisation, earnings and customers. NAB was ranked 21st largest bank in the world measured by market capitalisation and 50th largest bank in the world as measured by total assets in 2014, falling to 49th largest in March 2016. As of November 2014 NAB operated 1,590 branches and service centres; and 4,412 ATMs across Australia, New Zealand and Asia serving 12.7 million customers.
|Traded as||ASX: NAB|
|Industry||financial services, Finance, banking |
|Founded||1982 (as National Commercial Banking Corporation of Australia Limited)|
|Headquarters||700 Bourke Street|
Docklands, Melbourne, Australia
|Australiandustry = Banking, Financial services|
Number of employees
NAB has a "AA-" long term issuer rating by Standard & Poor's.
National Australia Bank was formed as National Commercial Banking Corporation of Australia Limited in 1982 by the merger of National Bank of Australasia and the Commercial Banking Company of Sydney. The resulting company was subsequently renamed National Australia Bank Limited.
The expanded financial base of the merged entity triggered significant offshore expansion over ensuing years. Representative offices were established in Beijing (1982), Chicago (branch 1982), Dallas (1983), Seoul (1983, upgraded to a branch in 1990), San Francisco (1984), Kuala Lumpur (1984), Athens (1984, closed 1989), Frankfurt (1985, closed 1992), Atlanta (1986), Bangkok (1986), Taipei (1986 upgraded to branch 1990), Shanghai (1988, closed 1990), Houston (1989) and New Delhi (1989).
In 1987, NAB bought Clydesdale Bank (Scotland) and Northern Bank (Northern Ireland and Republic of Ireland) from Midland Bank. It rebranded Northern Bank branches in the Republic of Ireland to National Irish Bank and changed both banks' logos from that of the Midland Bank. In 1990, NAB bought Yorkshire Bank (England and Wales).
Further acquisitions followed – Bank of New Zealand in 1992, which at the time had about a 26% market share in the New Zealand market, and Michigan National Bank (MNB) in 1995. NAB had earlier rationalised its operations in the US and closed its offices in Atlanta, Chicago, Dallas, Houston, and San Francisco in 1991.
This period of rapid expansion through acquisition concluded with the purchases in 1997 of HomeSide Lending, a leading US mortgage originator and servicer based in Florida, and most significantly, the acquisition in 2000 of MLC Limited (and related MLC entities) for $4.56bn, one of the biggest mergers in Australian corporate history.
NAB encountered a difficult period in the period 2000–2005. In 2000, NAB sold Michigan National Bank to ABN AMRO, then in 2001 sold HomeSide's operating assets for US$1.9b to Washington Mutual, the largest US savings and loan company, as well as the mortgage unit's loan-servicing technology and operating platform.
The foreign currency trader fraud was the catalyst for the resignations of CEO Frank Cicutto and Chairman Charles Allen. The resignations were preceded by a Board revolt where Catherine Walters emerged as a whistle blower citing serious culture issues at the company having led to the string of failures.
Frank Cicutto was CEO of NAB from 1999 to 2004. The Australian economic environment during his leadership was stable and productive after 17 consecutive years of economic growth since 1992, averaging 3.3 per cent per annum.
In February 2004, John Stewart was appointed CEO of NAB following the sacking of Cicutto. Stewart proceeded with a far reaching re-organisation of the company along regional lines leading to the appointment of Ahmed Fahour as the CEO of Australia in September 2004. On 20 February 2009 Fahour stepped down from the Principal Board and Group Executive Committee.
It began to outsource back office positions offshore, beginning with a pilot with 23 jobs from the accounts payable department in Melbourne going to Bangalore, India in an agreement with Accenture. Later that year, it sold Northern Bank and National Irish Bank to the Danish Danske Bank. Over 200 additional jobs had been sent offshore by 2006.
As part of the culture change program, a new Australian head office was purpose built at Docklands in Melbourne. This building is characterised by its open plan layout and was officially opened in October 2004. After Cameron Clyne became CEO in 2009, the Docklands building became the global headquarters replacing 500 Bourke Street.
By 2006, NAB had turned its fortunes around, reporting an industry record $4.3 billion profit and winning two local Bank of the Year awards. It also had a major reform which included the refurbishment of all of its branches, and the replacement of signage in and around National branches and buildings, being changed from 'National' to 'nab'.
In May 2007 NAB announced that it would delist from the New York Stock Exchange, and this took place in August 2007. NAB delisted from the London and Tokyo exchanges in 2006.
In March 2008 NAB announced that it would send maintenance and support for some core banking applications to India through an offshoring arrangement with Infosys and Satyam, affecting another 260 employees.
On 25 July 2008, NAB's announcement of an additional A$830 million provision associated with deterioration in US real estate markets triggered the biggest single-day fall in its share price in 21 years, wiping over A$7 billion from the stock's value.
As part of this strategy, NAB's underweight retail bank – under the leadership of Lisa Gray – attempted to increase market share by competing on price and cutting fees. Initially denting earnings in the division, the strategy produced mixed results over the medium term, with cash earnings, market share and customer satisfaction rising, but operating margin and cost to income ratio worsening since it began in 2009.
In line with the strategy, NAB attempted to differentiate itself from the other "Big 4" Australian banks in a large, national public relations campaign centred around a theme of "breaking up" with the other banks on Valentine's Day 2011. The campaign received both a positive and negative reception. It also attracted swift competitive responses from other major banks. The campaign won an advertising award at Cannes.
In 2009, NAB acquired the mortgage business of Challenger Financial Services for $385 million, in order to boost its market share in the broker channel. The purchase also included the PLAN, Choice, and FAST mortgage aggregation businesses and approximately 17.5% in Homeloans Ltd. In June that year it paid A$825m ($660m:£401m) for UK insurer Aviva's Australian wealth management businesses, including their Navigator platform. NAB beat off competition from AMP for Navigator. In July 2009 NAB acquired an 80% stake in the private wealth management division of Goldman Sachs JBWere, for A$99m.
In December 2009 NAB began a 9-month attempt to purchase Axa Asia Pacific. This attempt was blocked twice by the ACCC. The first time, in April 2010, was because the regulator believed that the merger would cause a substantial lessening of competition in the retail investment platform market. NAB subsequently lodged a revised bid which aimed to address these concerns however, was rejected a second time in September of that year. The Axa deal's drawn out process drew criticism for the bank's underperformance.
In 2014-NAB Melbourne Government announced that Cameron Clyne would be succeeded as CEO by Andrew Thorburn, NAB's New Zealand head. In August 2014, Lisa Gray left NAB as part of a broader set of executive changes.
As part of a strategy to focus NAB on its domestic markets, the bank listed its US subsidiary Great Western Bank subsidiary on the New York Stock Exchange in October 2014 as part of an initial public offering. NAB sold its final 28.5% holding in Great Western in July 2015.
In May 2015, NAB also confirmed it would demerge its Clydesdale and Yorkshire Bank business in the UK, through an initial public offering. The business was partially floated on the London Stock Exchange and Australian Securities Exchange under a new holding company, CYBG plc, in February 2016, with the remaining shares distributed to NAB's shareholders.
The following individuals have been appointed to serve as chief executive:
|#||Name||Title||Term start||Term end||Ref|
|1||Jack Booth||Chief Executive Officer and Managing Director||1 January 1983||1985|
|Vic Martin||1 January 1983||1983|
|4||Frank Cicutto||1999||September 2004|
|5||John Stewart||September 2004||31 December 2008|
|6||Cameron Clyne||1 January 2009||August 2014|
|7||Andrew Thorburn||August 2014||February 2019|
|8||Philip Chronican||From 1 March 2019||incumbent|
The following individuals have been appointed to serve as Chairman of the board:
|#||Name||Title||Term start||Term end||Ref|
|1||Sir Robert Law-Smith||Chairman of the Board||1 January 1983||1986|
|2||Sir Rupert Clarke||1986||January 1992|
|3||Bill Irvine||January 1992||September 1997|
|4||Mark Rayner||September 1997||2001|
|5||Charles Allen||2001||February 2004|
|6||Graham Kraehe||February 2004||September 2005|
|7||Michael Chaney||September 2005||December 2015|
|8||Ken Henry||December 2015||July 2019|
|9||Ross McEwan||July 2019||incumbent|
The National Australia Bank Group is organised into eight divisions, spread across two geographic regions.
|MLC & NAB Private Wealth||
|New Zealand||NZ Banking||
|Specialised Group Assets|
|Corporate Functions and Other|
NAB is a large user of the Siebel and Teradata CRM systems. While NAB has received recognition as an early adopter and leader in CRM (Customer Relationship Management) the system was reinvigorated in 2004/5 as part of the broader turnaround to support the new focus on cross-selling.
On 25 November 2010, NAB suffered a system malfunction resulting in the failure of accounts processing. As a result, around 60,000 banking transactions were lost, and had to be manually recovered. The malfunction was caused by a corruption of an irreplaceable system file. This issue has been dubbed by some commentators as one of the biggest failures in the history of the Australian banking system.
Under Cameron Clyne's leadership, NAB began to upgrade its core banking platform in a project dubbed "NextGen". The project involves the replacement of its legacy systems which are up to 40 years old with an Oracle-based solution. UBank was reported to be the first beneficiary of this project. In total, the project was expected to be completed in 2014 and cost $1 billion.
In 2008, NAB invested $33.5 million in corporate responsibility initiatives. Its target is to spend 1% of cash earnings before tax in this area. In 2009, NAB became the largest Fairtrade accredited workplace in Australia through purchasing Fairtrade tea, coffee and hot chocolate for their offices and retail branches. In March 2010 NAB stated it expected to save nearly $1 million in annual power costs from a $6.5 million tri-generation plant at its main data centre. NAB became one of Australia's largest carbon neutral companies in September 2010. NAB ranked equal first among financial service companies in the Global 500 companies in the 2010 Carbon Disclosure Leadership Index.
Sponsorship and scholarships
During this period, NAB emerged as a major sponsor of Australian rules football, both at grassroots and elite level. It supports Auskick, an initiative to improve young footballers, as well as the NAB Cup (an Australian Football League pre-season competition), the NAB AFL Rising Star award; and the AFL National Draft. Other significant sporting sponsorships included the Socceroos, the 2006 Commonwealth Games, and was the main shirt sponsor of the South Sydney Rabbitohs between 2008 and 2010.
Support is also given towards community group volunteers around Australia. In recent years, NAB has provided financial support and relief to drought affected farmers and helped in the clean-up of flood affected in Queensland and Victoria. NAB has also sponsored the Sheikh Fehmi El-Imam Scholarship, designed to help strengthen the links between NAB and the Muslim community and enables an undergraduate student to continue post-graduate studies in finance and economics.
The National Australia Bank is the AFL Women's current and inaugural naming rights partner.
Foreign currency trader staff fraud
In 2004, NAB discovered that as a result of unauthorised spot trades on its foreign currency options desk, losses totalling A$360 million had been covered up. Investigations by PricewaterhouseCoopers and the Australian Prudential Regulation Authority highlighted a need for cultural change. The losses were a result of a failed speculative position where the traders falsified profits to trigger bonuses over a number of years. In order to actually generate the reported profits, the traders speculated on the US dollar, betting that it would rise against the Australian dollar and other currencies. In 2006, two former NAB foreign currency options traders were sentenced on charges brought by the Australian Securities and Investments Commission (ASIC) and incurred jail terms.
Financial planner misconduct
Acting on a customer complaint, an Australian Securities & Investment Commission (ASIC) investigation found that between 1997 and 2001, a NAB financial products seller, Paul Drakos, working out of a northern Sydney branch at Hornsby made recommendations to a number of NAB clients, mostly retirees, to invest in BSI Corp, an entity based in the Bahamas which was not a NAB approved investment product. According to ASIC, at least $6.2m was subsequently transferred from the overseas accounts in the Bahamas and the Dominican Republic back to a private company account, held for Strategic Investments Group ACN 080 924 036 and controlled by a single director, the same Paul Drakos. Funds were then applied from this account as loans disguised as investments to a number of failed business opportunities among his familial associates including a golf driving range on the Central Coast of NSW, a plumbing business, and futures and commodities trading. The land holdings, as inflated securities, were also used by the failed Allco Hit. The NAB employee was not officially connected with BSI but gave instructions to agents based in Canada to arrange for the transfer of funds back to Strategic Investments Group and other accounts. On 29 May 2006 the NAB employee pleaded guilty to 8 counts of dishonestly obtaining a financial advantage by deception, 2 counts of fraudulent misappropriation and 3 counts of making and using false documents. There is also a connection, not yet pursued by ASIC, to the collapse of the Allco HIT Ltd and Strategic Finances where it is suspected that the swampland was used to underpin financial dealings. During the time of the investigations the NAB provided the perpetrator of the fraud with a loan of $350,000 secured by swampland on the Central Coast of NSW.
Tax evasion and customer overcharging in Ireland
The Irish subsidiary of the bank, National Irish Bank was the subject of a six-year Inquiry carried out by Inspectors appointed by the Irish High Court. They established that National Irish Bank had engaged in overcharging its own customers and tax evasion schemes prior to 1998. Mr Justice Peter Kelly, an Irish High Court judge commented following publication of the Report "The edifice of banking is built on a foundation of trust. On the Inspectors findings there was a breach of trust. The operation was carried out over a period of years in a deliberate fashion". The Director of Corporate Enforcement subsequently applied to the High Court to have 9 senior managers barred from being an officer of any company.
NAB booked two write-downs associated with HomeSide. First, in July 2001, NAB had a $450 million write down of the value of its capitalised mortgage servicing rights (CMSRs) during the quarter ending 30 June 2001, and was the result of exceptionally high mortgage refinance volumes which lowered the value of the CMSRs, combined with a more challenging capital markets environment in which to hedge interest rate risk. This was followed shortly by a second write-down reported in September totalling $1.75 billion; this second write-down consisted of US$400 million from an incorrect interest rate assumption embedded in the mortgage servicing rights valuation model, US$760 million from changed assumptions in the model flowing from the continued unprecedented uncertainty and turbulence in the mortgage servicing market, and US$590 million from writing off of the goodwill. In total, NAB booked $2.2 billion in losses due to HomeSide.
As a result of all these events, NAB's Australian shareholders attempted to sue it in the United States for securities fraud, even though the plaintiffs, the defendant, and the actual securities at issue (NAB's shares) were all located in Australia. (The main advantage of suing in the U.S. arises from Basic Inc. v. Levinson (1988), under which it is presumed that the defendant committed "fraud-on-the-market" unless the defendant proves otherwise.) The case of Morrison v. National Australia Bank Ltd ultimately ended up before the U.S. Supreme Court, which held in a unanimous 8–0 decision on 24 June 2010 that U.S. law against securities fraud does not apply to securities deals occurring outside of the country.
Financed fossil fuel businesses
It has been estimated that since 2008, NAB has loaned A$11.2 billion to the fossil fuel industry in Australia, positioning itself as the 3rd largest lender in this regard. Comparatively, loans to renewable energy are estimated at A$2.2 billion over the same period, or approximately 20% of the amount to fossil fuels. The Big Four Australian banks, of which NAB is part, are estimated to have provided approximately one third of all loans to the fossil fuel industry in Australia since 2008. Financed emissions count toward a company's Scope 3 emissions under the Greenhouse Gas Protocol.
Concerns that this finance is significant to Australia's contribution to global warming has led to various responses from the Australian community. These include the creation of 'fossil fuel-free' superannuation and investment products which exclude NAB from the investment universe. Shareholders of the bank engage NAB, often at the annual general meeting, asking for greater emissions disclosure and reduced finance for fossil fuels. Protest groups have also covered ATM screens to raise awareness regarding fear of environmental degradation of the Great Barrier Reef. Additionally, some NAB customers have moved their money to banks with a lesser financed emissions portfolio.
In early September 2015, reports circulated that NAB had ruled out finance for the proposed Adani Carmichael coal mine, which would be the largest coal mine in Australia and one of the largest in the world.
Hayne Royal Commission
A royal commission was established on in December 2017 to inquire into and report on misconduct in the banking, superannuation, and financial services industry. The establishment of the commission followed revelations in the media of a culture of greed within several Australian financial institutions. A subsequent parliamentary inquiry recommended a royal commission, noting the lack of regulatory intervention by the relevant government authorities,and later revelations that financial institutions were involved in money laundering for drug syndicates, turned a blind eye to terrorism financing, and ignored statutory reporting responsibilities and impropriety in foreign exchange trading.
During the Royal Commission, it was revealed that NAB subsidiary, MLC Limited, had charged some of its customers "adviser contribution fees" and "employer service fees" on its superannuation products. By its own admission, NAB executives told the Royal Commission that the customers may have not received any service, in spite of being charge a fee. NAB tried to disguise these fees as commissions. The following month ASIC commenced civil proceedings in the Federal Court alleging that NAB-owned superannuation entities had deducted $100 million in fees from more than 300,000 customers where services were not provided. Appearing before the Royal Commission in November 2018, NAB Chef Executive Officer Andrew Thorburn defended the fees-for-no-service issue as a “process issue” rather than dishonesty. Days earlier, NAB Chairman and former Secretary of The Treasury Ken Henry defensively appeared before the Royal Commission, with some tense exchanges between Henry and legal counsel Rowena Orr.
- "National Australia Bank Ltd (NAB.AX) Company Profile". Reuters.com. Retrieved 3 April 2015.
- "Full Year Results 2018" (PDF). National Australia Bank. 1 November 2018. Retrieved 26 May 2019.
- "2016 Half Year Results announcement" (PDF). 2016 Half Year results. Retrieved 6 May 2016.
- "NAB". Australasian Centre for Corporate Responsibility.
- "NAB, ANZ forced to defend fossil fuel funding at AGMs". East & Partners. 22 December 2014. Archived from the original on 2 April 2016. Retrieved 22 December 2015.
- "Top Banks in the World 2014". relbanks.com. 2014.
- "Annual Report 2014" (PDF). National Australia Bank. 14 November 2014. Archived from the original (PDF) on 8 April 2015. Retrieved 3 April 2015.
- "NAB cold on Adani's Carmichael". The Australian Financial Review. 2 September 2015.
- Long, Stephen (2 February 2004). "Frank Cicutto Resigns as NAB boss". ABC The World Today. Retrieved 24 February 2017.
- "Cathy Walter: parent, achiever, dissident". The Age. Melbourne. 4 April 2004. Retrieved 24 February 2017.
- Our Business – NAB Archived 2 May 2010 at the Wayback Machine
- Our Business – NAB Archived 27 January 2010 at the Wayback Machine
- "Ahmed Fahour steps down from NAB Executive and Board". www.nab.com.au (Press release). NAB. 20 February 2009. Archived from the original on 23 February 2017. Retrieved 23 February 2017.
Mr Fahour said he was leaving the business after nearly five years because the job he was employed to do had been completed successfully.
- "NAB mixes job cuts with record profits". The Age (Melbourne). AAP. 11 May 2005. Retrieved 24 February 2017.
- Murray, Lisa (26 September 2005). "NAB to export 23 jobs to India". Sydney Morning Herald. Retrieved 24 February 2017.
- "Spotlight on National Australia Bank". Financial Sector Union. Archived from the original on 18 June 2007.
- "National Australia Bank Officially Opens New Flagship Docklands Complex". NAB. Archived from the original on 9 October 2009.
- Brawn, Graham; Drake, Scott (1 January 2005). "National @ Docklands". Architecture Australia. Vol. 94 no. 1. Architecture Media Pty Ltd. ISSN 0003-8725. Retrieved 24 February 2017.
- "National Australia Bank's First-Half Profit Tops Forecasts". CNBC. Reuters. 9 May 2007. Retrieved 24 February 2017.
- Sharma, Mahesh (4 March 2008). "NAB sends jobs offshore". The Australian. Archived from the original on 5 March 2008. Retrieved 4 March 2008.
- Zappone, Chris (25 July 2008). "NAB's $7 billion wipeout". The Age, Melbourne. Retrieved 25 July 2008.
- "NAB unveils UBank". National Australia Bank. 1 October 2008. Archived from the original on 29 September 2011. Retrieved 17 November 2011.
- "NAB axes Fahour's role in rejig". The Age. 18 December 2008. Retrieved 22 June 2009.
- Bell, Alison (4 May 2010). "NAB earnings expected to trail rivals". The Age. Melbourne. Retrieved 17 November 2011.
- NAB profits hit by fee cuts, ABC, 6 May 2010
- NAB H1 profit jumps as market share improves, Business Spectator, 5 May 2011
- NAB's organics will need constant tending, Business Spectator, 5 May 2011
- "The Break Up – NAB breaks up with banks, CommBank, ANZ, Westpac". National Australia Bank. Retrieved 17 November 2011.
- "'Break-up' campaign helps NAB to top of bank customer satisfaction list". AAP. 8 April 2011.
- Thomson, James (16 February 2011). "Five lessons from NAB's "bank break-up" marketing campaign". SmartCompany. Archived from the original on 26 January 2012. Retrieved 17 November 2011.
- Hammond, Michelle (18 April 2011). "Regional independent banks top the majors for SMEs: Report". StartupSmart. Retrieved 17 November 2011.
- "NAB Break Up Rebuttal". iMarketing Solutions. Archived from the original on 7 November 2011. Retrieved 17 November 2011.
- Gluyas, Richard (20 April 2011). "Business banking franchise may take a collateral hit in the 'fair value' campaign". The Australian. Retrieved 17 November 2011.
- NAB campaign wins top award at Cannes, The Australian
- "NAB to acquire Challenger's mortgage management business" (PDF). ASX. 18 August 2009.
- "Aviva sells Australian Business". BBC. 22 June 2009.
- "NAB snaps up 80% of JBWere wealth unit". The Age. Melbourne. 29 July 2009.
- John, Danny (9 September 2010). "For AXA it's goodbye NAB, hello AMP". The Sydney Morning Herald.
- Ferguson, Adele (22 March 2010). "Angst over Axa and worries over bank's performance: the woes of Cameron Clyne". The Sydney Morning Herald.
- "NAB faces investor ire before AGM". Financial Review. 3 December 2012. Retrieved 14 July 2013.
- Sharp, Tim (11 December 2012). "NAB faces investor backlash at AGM". Herald Scotland. Retrieved 14 July 2013.
- "Our Performance". National Australia Bank. Retrieved 14 July 2013.
- Michael Smith. "National Australia Bank shareholders give cautious nod to new boss Andrew Thorburn". Sydney Morning Herald. Retrieved 31 October 2015.
- Clancy Yeates (1 August 2014). "New NAB chief Andrew Thorburn shakes up executive team". Sydney Morning Herald. Retrieved 31 October 2015.
- Yeates, Clancy (17 July 2015). "Why National Australia Bank's selling final stake in Great Western Bank". Sydney Morning Herald. Retrieved 14 February 2016.
- Somasundaram, Narayanan (15 October 2014). "Great Western Unchanged in Debut After Scaled-Back IPO". Bloomberg Business. Retrieved 14 February 2016.
- "NAB sells remaining Great Western stake". Sky News Australia. 29 July 2015. Retrieved 14 February 2016.
- Pandey, Swati; Scuffham, Matt (7 May 2015). "NAB to demerge UK unit after $4.4 billion fundraising". Reuters. Retrieved 8 May 2015.
- Taverner, Charlie; Fedor, Lauren (3 February 2016). "Clydesdale Bank share price trades above opening offer as conditional trading starts on IPO after 24-hour delay". City A.M. Retrieved 14 February 2016.
- "Banks merger completed". The Canberra Times. 56 (16, 807). Australian Capital Territory, Australia. 2 October 1981. p. 14. Retrieved 8 February 2019 – via National Library of Australia.
- Silver, Lynette (23 April 2015). "Managing director guided CBC during a time of change: VIC MARTIN 1923–2015". The Sydney Morning Herald. Retrieved 8 February 2019.
- Toevai, Sineva; Bianca Hartge-Hazelman (3 April 2014). "NAB chief Cameron Clyne to retire". The Sydney Morning Herald. Fairfax Media. Retrieved 3 April 2014.
- Morgan, Elysse (8 February 2019). "NAB interim CEO Phil Chronican the right man for the job, investors say". ABC News. Retrieved 9 February 2019.
- "Merging banks favour 'National Commercial'". The Canberra Times. 56 (16, 925). Australian Capital Territory, Australia. 29 January 1982. p. 13. Retrieved 9 February 2019 – via National Library of Australia.
- "Banks merger completed". The Canberra Times. 56 (16, 807). Australian Capital Territory, Australia. 2 October 1981. p. 14. Retrieved 9 February 2019 – via National Library of Australia.
- "Bank chiefs fiscal warning". The Canberra Times. 66 (20, 765). Australian Capital Territory, Australia. 19 February 1992. p. 29. Retrieved 9 February 2019 – via National Library of Australia.
- "Ken Henry to succeed Michael Chaney as NAB chairman". The Australian. 7 May 2015. Retrieved 9 February 2019.
- "NAB chairman Michael Chaney defends performance". The Sydney Morning Herald. 17 December 2015.
- 2011 Full Year Financial Results
- "National Australia Bank receives global recognition in Customer Relationship Management". NAB media release. 10 December 2003.
- "NAB's track record a winner". Sydney Morning Herald. 22 February 2005.
- "National Australia Bank and Teradata Win Overall NCDM Award for Excellence in Database Marketing". 17 December 2008.
- "CRM adopter plays catch-up". The Australian. 19 September 2006.
- "Bank's CRM revamp hits half-way mark". Computerworld. 16 March 2006. Archived from the original on 13 January 2007. Retrieved 29 October 2006.
- "ifs/Capgemini Financial Innovation Awards 2006". ifs School of Finance. Archived from the original on 8 February 2007.
- Zappone, Chris (2 December 2010). "NAB's woes trigger missing transactions". Sydney Morning Herald. Retrieved 5 December 2011.
- Foo, Fran (30 November 2010). "Human error triggered NAB software corruption". The Australian. Retrieved 17 November 2011.
- This is the year for NAB core banking overhaul Archived 9 May 2011 at the Wayback Machine, iTWire, 6 May 2011
- "NAB UBank IT 'well advanced'". ZDNet. 29 April 2009.
- Sharma, Mahesh (28 April 2009). "Roadmap for $1b IT overhaul done: NAB". The Australian. Archived from the original on 30 April 2009. Retrieved 29 April 2009.
- NAB UBank IT 'well advanced', ZDNet.com.au, 28 April 2009
- "NAB starts digital review as Nextgen questions remain". afr.com. 28 April 2014. Retrieved 31 October 2015.
- "2008 Shareholder Review". National Australia Bank. Archived from the original on 15 February 2009. Retrieved 20 February 2009.
- "NAB Corporate Responsibility Newsletter – July 2010". NAB. Archived from the original on 6 July 2011. Retrieved 20 January 2011.
- Foo, Fran (23 March 2010). "Tri-generation plant to cut bank's energy bill". The Australian. Retrieved 20 January 2011.
- "NAB achieves carbon neutral status (with carbon offsets)". Dynamic Business. 30 September 2010. Retrieved 20 January 2011.
- "Environment". NAB. Retrieved 20 January 2011.
- Gaskin, Lee (10 October 2016). "NAB signs on as AFL Women's League naming-rights sponsor". AFL Media. Bigpond. Retrieved 2 February 2017.
- "NAB Sheikh Fehmi El-Imam Scholarship". NAB. Archived from the original on 24 October 2009. Retrieved 14 April 2010.
- "Former NAB foreign currency options traders sentenced". Australian Securities and Investments Commission. 4 July 2006. Archived from the original on 28 September 2007.
- "BSI Corp website". BSI Corp. February 2014.
- "ASIC Form 603 - Notice of initial substantial holder" (PDF). Australian Securities & Investment Commission. December 2007.
- "Allco HIT calls it quits - SMH". Sydney Morning Herald. November 2008.
- "Former NAB financial planner pleads guilty to fraud charges". Australian Securities and Investments Commission. May 2006. Archived from the original on 23 March 2011.
- Mr Justice John Blayney and Mr Tom Grace FCA (30 July 1998). "Summary of Report of the Investigation into the affairs of National Irish Bank Ltd and National Irish Financial Services Limited" (PDF). The High Court. Archived from the original (PDF) on 4 March 2016. Retrieved 6 February 2014.CS1 maint: uses authors parameter (link)
- "Ex-NIB executive barred for 10 years by court". Eircom.net. 27 October 2005. Archived from the original on 12 January 2006.
- "ODCE seeks nine disqualifications arising from National Irish Bank / National Irish Bank Financial Services Report" (DOC) (Press release). Director of Corporate Enforcement. 28 August 2005.
- Staff, LII (21 March 2010). "Morrison v. National Australia Bank (08-1191)". LII / Legal Information Institute. Retrieved 10 April 2017.
- "Fueling The Fire 162016". Market Forces. August 2016.
- "Fueling The Fire: How the big banks are using our money to support the dirty fossil fuel industry" (PDF). Market Forces. June 2015.
- "Banks excluded from first fossil-free Australian shares index". The Sydney Morning Herald. 1 September 2015.
- "Future Super".
- "Suit filed for CBA to come clean on dirty fuel". Asia-Pacific Banking & Finance. 15 October 2014.
- "2015 AGM webcast". National Australia Bank. 17 December 2015.
- "Climate activists target ATM screens over Great Barrier Reef mining fears". The Sydney Morning Herald. 16 March 2015.
- "Coal, climate change collide as customers query banks' green credentials". The Sydney Morning Herald. 20 May 2014.
- "Bank accounts closed in fossil fuels protest". The Sydney Morning Herald. 2 May 2014.
- "National Australia Bank rules out funding Adani's Carmichael coal mine". The Sydney Morning Herald. 3 September 2015.
- Ferguson, Adele (5 May 2014). "Banking Bad" (transcript). Four Corners. Australian Broadcasting Corporation. Retrieved 1 March 2018.
- McGrath, Pat; Janda, Michael (27 June 2014). "Senate inquiry demands royal commission into Commonwealth Bank, ASIC". ABC News. Australia. Retrieved 1 March 2018.
- Verrender, Ian (7 August 2017). "How the Commonwealth Bank laid the groundwork for a royal commission". ABC News. Australia. Retrieved 1 March 2018.
- Frost, James; Eyers, James (21 December 2016). "CBA and NAB admit impropriety in foreign exchange trading". The Age. Melbourne. Retrieved 1 March 2018.
- Danckert, Sarah (6 August 2018). "NAB accused of trying to avoid fees-for-no-service refunds". The Sydney Morning Herald. Retrieved 7 February 2019.
- "Regulator sues NAB for no-service scandal as industry faces $1bn bill". Guardian Australia. AAP. 6 September 2018. Retrieved 7 February 2019.
- Wooten, Hannah (26 November 2018). "NAB insists fees for no service a "process issue"". Money Management. Retrieved 7 February 2019.
- Chalmers, Stephanie (27 November 2018). "Banking royal commission sees NAB chairman Ken Henry grilled on 'fees for no service'". ABC News. Australia. Retrieved 7 February 2019.
- Hutchens, Gareth (6 September 2018). "Ken Henry says it could take 10 years to change NAB's culture – as it happened". Guardian Australia. AAP. Retrieved 7 February 2019.
- Yeates, Clancy; Danckert, Sarah (1 December 2018). "How Ken Henry opened up a corporate can of worms". The Sydney Morning Herald. Retrieved 7 February 2019.
- Pash, Chris (27 November 2018). "Ken Henry's royal commission appearance sparked a debate over one of the biggest issues facing capitalism". Business Insider. Retrieved 7 February 2019.