Tag: nab

NAB staff speak out after mass job cuts revealed | Restructuring at big four bank | NAB job losse…

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NAB staff speak out after mass job cuts revealed

NAB workers have spoken out after the bank announced plans to shed staff. (ABC News: Keana Naughton)

Entire teams of National Australia Bank workers are having to reapply for their jobs and compete among themselves as part of a major restructure.

Staff say the writing was on the wall as they witnessed the bank pushing to offshore workers and take up AI.

The major bank revealed plans to slash 2,500 roles by June next year, with 1,500 expected to be out the door before Christmas.

National Australia Bank (NAB) workers have accused the banking giant of a "spill and fill" redundancy strategy, forcing entire teams to reapply for their positions as part of a sweeping restructure.

Restructuring at big four bank

National Australia Bank (ASX: NAB) plans to cut 2,500 roles, or about 6% of its workforce, in fiscal 2027, including up to 1,500 before the end of 2026. It will also materially reduce its use of consultants and contractors, with an expected restructuring charge of around $300 million pretax in fiscal 2027.

Why it matters: With revenue growth slowing, management is pulling the cost lever. Credit growth is moderating, and mortgage competition remains intense, limiting top-line growth. Cutting costs helps preserve profitability while maintaining investment in technology and artificial intelligence.

The bottom line: We retain our $33 fair value estimate for wide-moat National Australia Bank and make no changes to our forecasts ahead of the fiscal 2026 result on Nov. 5. Shares remain overvalued.

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NAB job losses: The Grinch is stealing this Christmas from NAB workers, AI comes next

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Westpac boss Anthony Miller thought he was issuing a hairy-chested war cry to his fellow employees in August when he bragged – while laying off hundreds of their colleagues – he worked every day of the year, including Christmas.

The comment was later clarified to mean he chatted to his dad about the bank over Christmas lunch, but by then his reputation as the Grinch who stole Christmas was solidly in place.

On Tuesday, his NAB counterpart Andrew Irvine showed us all what a real Grinch looks like.

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October 22, 2026
NAB to slash up to 2,500 jobs in massive restructure | ASX200 LIVE: ASX to fall; Wall Street lift…

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NAB to slash up to 2,500 jobs in massive restructure

National Australia Bank (NAB) plans to make about 6 per cent of its staff redundant by the end of this financial year. (ABC News: Stephen Cavenagh)

NAB has announced plans to cut up to 2,500 jobs, or about 6 per cent of its workforce, this financial year.

NAB chief executive Andrew Irvine said there would be no material impact to customer-facing banking roles.

Up to 1,500 roles will be cut by the end of the year, NAB said. It will book $300 million in restructuring costs.

National Australia Bank says it will cut up to 2,500 jobs, or about 6 per cent of its workforce, by mid-2027.

ASX200 LIVE: ASX to fall; Wall Street lifts on tech rebound

Australian shares opened lower on Tuesday, failing to catch Wall Street’s overnight rebound in chipmakers following last week’s sell-off.

The S&P/ASX 200 Index lost 58.5 points, or 0.66 per cent, to 8787.2 as at 10.05am (AEDT), with all but one of the 11 sectors opening in the red. Technology stocks was the only sector in the green, led higher on improved sentiment around artificial intelligence investment.

Overnight, chip giants climbed 2.8 per cent, pulling the Nasdaq up 1.6 per cent. CoreWeave, which was sold heavily last week, rose 1.6 per cent on a “buy” recommendation from Goldman Sachs. Meta’s earnings report this week will provide the latest gauge of market sentiment on the artificial intelligence trade.

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October 20, 2026
NAB customers back online after experiencing phone and internet banking outages | NAB hit by majo…

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NAB customers back online after experiencing phone and internet banking outages

NAB has confirmed it has been affected by an online banking outage. (ABC News: Keana Naughton)

National Australia Bank (NAB) has seen most of its services restored, after experiencing a digital outage across multiple platforms.

In a statement, an NAB spokesperson said: "Some business customers are continuing to experience login issues via NAB Connect, and we're working as quickly as possible to resolve the remaining impacts.

"We apologise to customers for the disruption and thank them for their patience and understanding while we continue to restore services."

Across Thursday afternoon, NAB's outage impacted its internet banking, the NAB mobile app and phone lines.

NAB hit by major outage disruption across apps and call centres

A major network outage has left National Australia Bank (NAB) customers unable to access core digital services, including internet banking and the mobile app.

The bank confirmed it is experiencing widespread disruption across multiple digital channels, while customers are also facing difficulties contacting customer service.

NAB customers are unable to access internet banking, mobile apps, and NAB Trade following a major network outage. National Australia Bank

The outage has affected NAB Internet Banking, the NAB Mobile App, NAB Connect, NAB Trade, NAB Broker, and the JBWere wealth management firm.

"Our team is working to fix this as soon as possible. We apologise for the inconvenience," NAB said in a statement.

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September 23, 2026
Is NAB one of the best ASX dividend shares to buy? | How Business Lending Powers the S&P/ASX 200 …

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Is NAB one of the best ASX dividend shares to buy?

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I run through the numbers to see what income investors could receive at today's share price.

National Australia Bank Ltd (ASX: NAB) has long been popular with income investors, much like the rest of the big four banks.

The combination of large profits and fully franked dividends has made the banking sector an obvious place to look for passive income.

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September 23, 2026
NAB eyes HSBC deposit book | National Australia Bank Said to Evaluate Purchase of HSBC’s Australi…

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National Australia Bank Said to Evaluate Purchase of HSBC's Australian Deposit Portfolio

This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.

This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.

This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.

HSBC Australia’s Deposit Book Is Back in Play; NAB Shares Fall 1.4%

National Australia Bank is among potential buyers conducting due diligence on HSBC Australia’s deposit portfolio, according to a report published Friday by MT Newswires. Neither bank has announced an agreement, a price or the balance of deposits under review. For NAB investors, those missing terms matter more than the strategic logic of adding customer funding.

NAB shares were A$38.685 at 1:56 p.m. AEST, down A$0.535, or 1.36%, from Thursday’s A$39.22 close, according to delayed Yahoo Finance data. The stock had traded between A$38.57 and A$39.26, with about 1.09 million shares recorded in the one-minute data. That incomplete volume is not comparable with Thursday’s full-session 8.02 million shares.

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September 18, 2026
NAB is modernising data pipelines for its Ada platform | Here’s what brokers tip for NAB shares…

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NAB is modernising data pipelines for its Ada platform

NAB is going back and standardising the way data pipelines for its Ada data platform are built, which will lower run costs and make new recovery features available.

Head of data reliability engineering Dheeraj Puli told the Databricks Data+AI Summit in San Francisco that the bank is standardising on Spark Declarative Pipelines (SDP) across more than 1600 data pipelines.

Ada is considered to be “chapter two” of the bank’s data journey, first breaking cover back in 2022.

It has Databricks on AWS at its core, and replaced several large data platforms, including the NAB Data Hub (NDH) and a 26-year-old Teradata environment.

Here’s what brokers tip for NAB shares over the next 12 months

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July 8, 2026
Confidential NAB loan fraud investigation warns of ‘trusted insiders’ | NAB takes action on i…

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Confidential NAB loan fraud investigation warns of ‘trusted insiders’

An internal National Australia Bank investigation has revealed the operations of sophisticated mortgage fraud syndicates that include large real estate and investment advisory firms, accountants and brokers, some of whom have allegedly infiltrated the lending giant through trusted insiders.

The probe, which included incidents in June and October last year, found “an extensive network of sustained relationships with at least eight brokers”.

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Inside the NAB probe into an alleged mortgage fraud abyss

A decade ago, a court was warned about a torrent of fraudulent loan applications. Now the same names are turning up as suspicious lenders take a closer look.

Major banks have been increasingly concerned about a flood of suspect home loan applications. Michaela Pollock

“From humble door-knocks to $11 billion in transactions. From one man’s dream to a platform trusted by over 100,000 customers. A journey built on vision, resilience and lasting impact.” That’s how the flashy highlights reel from the Property Investors Alliance described the company.

It was late September and the Property Investors Alliance had gathered its most loyal customers to mark two decades in business. Justin Wang, the company’s founder, addressed an enthusiastic crowd. His presentation showed a web of just some of what the company did – from accounting, to rental assessments to entirely managing a property for its owner.

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June 27, 2026
Confidential NAB investigation delves into $4b loan fraud claims | NAB takes action on industry-w…

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Confidential NAB investigation delves into $4b loan fraud claims

An internal National Australia Bank investigation has revealed the operations of sophisticated mortgage fraud syndicates that include large real estate and investment advisory firms, accountants and brokers, some of whom have allegedly infiltrated the lending giant through trusted insiders.

The probe, which included incidents in June and October last year, found “an extensive network of sustained relationships with at least eight brokers”.

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NAB takes action on industry-wide mortgage fraud

The mortgage industry is contending with a heightened and increasingly sophisticated fraud environment.

NAB confirms it has been investing significant resources and expertise to fight this threat and taking action.

NAB has zero tolerance for criminal behaviour and is investing heavily to respond. We are identifying and disrupting this activity, with more to do as a bank and across the industry. NAB has referred multiple parties to the appropriate authorities and has exited or suspended a number of parties from the bank. We will continue to take an uncompromising stance on anyone who engages in illegal or unethical behaviour.

This is complex, organised crime that spans industries and borders. These risks aren’t confined to any one institution or just banks. Brokers, real estate agents, lawyers, accountants, conveyancers, and other industries that support mortgage lending are facing the same threat from corrupt professional facilitators and organised crime.

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Inside the NAB probe into an alleged mortgage fraud abyss

A decade ago, a court was warned about a torrent of fraudulent loan applications. Now the same names are turning up as suspicious lenders take a closer look.

Major banks have been increasingly concerned about a flood of suspect home loan applications. Michaela Pollock

“From humble door-knocks to $11 billion in transactions. From one man’s dream to a platform trusted by over 100,000 customers. A journey built on vision, resilience and lasting impact.” That’s how the flashy highlights reel from the Property Investors Alliance described the company.

It was late September and the Property Investors Alliance had gathered its most loyal customers to mark two decades in business. Justin Wang, the company’s founder, addressed an enthusiastic crowd. His presentation showed a web of just some of what the company did – from accounting, to rental assessments to entirely managing a property for its owner.

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June 26, 2026
NAB first bank in Australia rolling out conversational AI data tool to speed up customer insights…

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June 22, 2026
Read NAB staffers’ leaked messages in the wake of co-worker’s suicide | Inside NAB’s suicide mach…

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Read NAB staffers' leaked messages in the wake of co-worker's suicide

Leaked posts from NAB's internal social networking platform show staff confessing they felt 'defeated' by the bank's worsening culture, just hours after a colleague took his own life at its Melbourne headquarters.

The conversation between three workers appeared on the Big Four bank's internal 'Engage' platform, from March 5 – the day a man from the fraud department took his own life from the roof of NAB's Docklands building.

The suicide took place after 2pm on a Thursday, when his colleagues were returning to the office after lunch.

While the reason for his death is unclear, a number of workers at NAB – Australia's second largest bank – told Daily Mail about their own mental breakdowns and suicide attempts following what they described as relentless and targeted bullying by managers.

Inside NAB's suicide machine: Whistleblower waives anonymity

A former NAB employee has told how he found himself standing on the rooftop of the bank's Melbourne skyscraper and, moments after getting his will signed and witnessed, contemplated taking his own life.

John Horwood, 49, made sure his life insurance policy covered suicide by the time he went to the top of NAB's Docklands headquarters on December 17 and sat there for 30 minutes.

He had been retrenched after almost nine years of service, but instead of immediately showing him the door, NAB dragged the process out for two months with promises of a possible redeployment that never came to fruition.

By that stage, John's mental health had deteriorated significantly after years of bullying, verbal abuse and gaslighting by a number of senior employees, who he claims only cared about their bonuses.

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The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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April 4, 2026