Tag: nab

  • Read NAB staffers’ leaked messages in the wake of co-worker’s suicide | Inside NAB’s suicide mach…

    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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  • NAB warns rising petrol prices could drive inflation above 5 per cent | Expanding Middle East war…

    NAB warns rising petrol prices could drive inflation above 5 per cent | Expanding Middle East war…

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    NAB warns rising petrol prices could drive inflation above 5 per cent

    Fuel prices hit more than $2.25 in Sydney today. (ABC News: John Gunn)

    Global oil prices have spiked dramatically amid war in the Middle East, with Brent crude rising more than 25 per cent this afternoon.

    Petrol prices have surged, with some motorists reporting prices as high as $2.42 a litre in WA.

    Economists at NAB warn inflation could peak above 5 per cent as fuel prices rise due to the skyrocketing cost of oil.

    Oil prices climbed 25 per cent today, with Brent crude surpassing $US115 a barrel, as analysts label it a "furious rise" amid war in the Middle East.

    Australians have already felt pain at the petrol pump, with fuel prices as high as $2.42 in parts of the country and wholesalers restricting supply.

    Expanding Middle East war to loom over domestic economy

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    Events in the Middle East will cast a shadow over Australia's economy with the widening conflict potentially impacting inflation.

    While this week will feature a lull in the volume of major data released, developments in the Middle East will be watched keenly by the Reserve Bank for any sign of impact on domestic markets.

    The central bank's governor, Michele Bullock, warned on Tuesday it would be too early to tell what the effect would be, with supply shocks adding to inflation pressures.

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    Not just petrol: what else could Iran war cost Bendigo residents?

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    The pain could get "a lot higher" for Bendigo residents, a local real estate agent says as people race to understand the long-term economic effects of inflation.

    It comes as shockwaves from the fight over Iran's future reverberate through more of Bendigo household finances than petrol prices.

    Multiple petrol stations ran out of unleaded petrol over parts of the weekend and many people have been stocking up as prices surge.

    While it is still too soon to understand the long-term economic effects of the Middle East conflict, PH Property director Brad Hinton has warned if interest rates were to go up the pain would be "a lot higher" for those with high mortgages.

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  • NAB announces Executive changes | National Australia Bank Leadership Changes Put Risk And Valuati…

    NAB announces Executive changes | National Australia Bank Leadership Changes Put Risk And Valuati…

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    NAB veteran to retire as new CFO Inder Singh steps in

    National Australia Bank (NAB) has announced executive leadership changes, with long‑serving group executive Shaun Dooley (pictured left) planning to retire and incoming finance chief Inder Singh (pictured right) set to start in March.

    Dooley, a 33‑year veteran of the bank, has been group chief risk officer (CRO) since October 2018 and was appointed acting group chief financial officer (CFO) on 18 March 2025. 

    NAB said Dooley intends to retire by the end of 2026. He will continue as CRO while the bank recruits his successor, ensuring continuity in a key control role.

    As group CRO, Dooley has led the risk function across the NAB Group, heading a team of specialist risk professionals providing review and challenge, advice, and guidance on financial and non‑financial risks to all business and enterprise units. Before this, he served as NAB Group treasurer, managing the bank’s capital, funding, liquidity and balance sheet risk across Australia and offshore operations.

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  • NAB continues to lead $1.2tn business lending market | NAB continues ‘Your Partner at Every Stage…

    NAB continues to lead $1.2tn business lending market | NAB continues ‘Your Partner at Every Stage…

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    NAB continues to lead $1.2tn business lending market

    Business lending in Australia continues to grow on a steady path, particularly among the majors, according to the latest statistics from the Australian Prudential Regulation Authority.

    APRA’s Monthly Authorised Deposit-taking Institution Statistics show lending to non-financial businesses by Australia’s authorised deposit-taking institutions (ADIs) totalled $1,199.2 billion in January 2026.

    That represents an increase of 9.3 per cent over the year and growth of 53.9 per cent compared with January 2020.

    National Australia Bank (NAB) remains the largest business lender, with a loan book totalling $261.1 billion in January. Its loan book rose 0.2 per cent over the month and 11.6 per cent over the year.

    Commonwealth Bank of Australia (CBA) reported $230.8 billion in business lending, up 0.9 per cent month on month and 12.0 per cent year on year.

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  • NAB response to Mr Williams | Why the ABC pulled its Australian Story episode about NAB at last m…

    NAB response to Mr Williams | Why the ABC pulled its Australian Story episode about NAB at last m…

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  • NAB offshores chat roles to India | Major Australian bank plans to offshore more than 100 roles t…

    NAB offshores chat roles to India | Major Australian bank plans to offshore more than 100 roles t…

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    Major Australian bank plans to offshore more than 100 roles to India

    One of Australia’s big four banks is looking to offshore more than 100 digital messaging roles to its Indian office.

    One of Australia’s big four banks is looking to offshore digital messaging roles to its Indian office while impacted Australian workers will be offered a local call centre job.

    NAB plans on creating about 110 new digital messaging roles in its Indian office.

    The bank’s decision to offshore will allow customers to speak with messaging assistants from 5am to 11pm, seven days a week.

    NAB’s move means it will offshore its entire digital messaging team, however, it will offer voice roles for impacted Australian workers.

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  • Even NAB’s No.2 can’t escape the housing affordability question | NAB’s Chief Sees Australi…

    Even NAB’s No.2 can’t escape the housing affordability question | NAB’s Chief Sees Australi…

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    NAB’s Chief Sees Australia as Growth Bet

    National Australia Bank’s new business banking chief, Andrew Auerbach, believes Australia is better positioned for long-term growth than his native Canada, citing optimism, entrepreneurial momentum and comparatively strong economic fundamentals. Speaking less than six months into the role, Auerbach said Australia stands out as global diplomacy and trade settings continue to shift, as reported in The Australian.

    Recruited last year by NAB chief executive Andrew Irvine, also a Canadian and former colleague at Bank of Montreal, Auerbach stepped into the role after Rachel Slade’s departure. Since relocating, he has settled in Melbourne and says the transition has been smooth. Australia, he notes, feels familiar: the business culture, banking system and customer mindset closely resemble Canada’s, but with a stronger sense of opportunity.

    NAB joins Commonwealth Bank in major interest rate move ahead of key RBA decision: ‘Start getting prepared’

    NAB has become the second Big Four bank to hike fixed interest rates ahead of the Reserve Bank of Australia’s (RBA) hotly anticipated February cash rate meeting. It joins Commonwealth Bank and Macquarie who hiked rates last week.

    NAB has increased fixed home loan rates by up to 0.40 percentage points, to make its lowest rate 5.74 per cent for one year. It joins a total of 54 lenders who have increased at least one fixed rate since the last cash rate decision in December, where rates were kept on hold.

    Both NAB and Commonwealth Bank are expecting the RBA to increase the cash rate from 3.60 to 3.85 per cent when it meets on February 2 and 3.

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  • NAB CEO Andrew Irvine has heard the alarm on drinking at customer events | NAB CEO Faces Scrutiny…

    NAB CEO Andrew Irvine has heard the alarm on drinking at customer events | NAB CEO Faces Scrutiny…

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    NAB CEO Andrew Irvine has heard the alarm on drinking at customer events

    The easiest way to ensure there aren’t any concerns raised about one’s drinking is to abstain.

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    When NAB investors raised questions about CEO Andrew Irvine’s drinking and management style with chairman Phil Chronican back in June it was over lunch at the bank’s Sydney office.

    Not a pleasant time for the new boss. The board felt the need to up his “mentoring” after the incident, and Irvine himself said the ensuing media coverage was “difficult” for him and his family.

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    NAB CEO Faces Scrutiny Over Drinking and Management Style Amid Investor Concerns

    Home » Trending » NAB CEO Faces Scrutiny Over Drinking and Management Style Amid Investor Concerns

    In a recent internal meeting at NAB’s Sydney office, concerns were raised regarding CEO Andrew Irvine’s leadership style and personal conduct, specifically his drinking habits. This discussion, held in June, involved board members, including chairman Phil Chronican, who found it necessary to address these issues due to their potential impact on the bank’s reputation and performance.

    Participants in the meeting suggested that there was a pressing need for enhanced mentorship for Irvine, indicating that the board was keen to ensure his leadership remained effective amid rising scrutiny. The atmosphere during the lunch was reportedly tense, as the executives grappled with the implications of these concerns for the future of the bank.

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