The additional provisions reflect expected payouts for NAB's employed advisers, and the costs to review advice provided by its self-employed adviser network.
April 19, 2019Overseen by APRA, a group of industry players – including the big four banks – are looking to reshape the financial system to ensure readiness for climate risks.
March 30, 2019Delays attributed to poor record-keeping and systems, failures to implement methodologies to identify and compensate customers, and an overly legalistic approach at some institutions.
March 12, 2019Commissioner Hayne said in his Final Report that NAB “stands apart” from the other major banks and questioned whether its senior leadership was capable of reforming the bank’s culture.
February 8, 2019National Australia Bank plans to migrate more than 300 applications, including some core banking systems, to a public cloud by the end of 2019.
December 12, 2018An inquiry by Australia's competition watchdog found that opaque discretionary mortgage pricing at major banks is stifling competition and disincentivising borrowers from seeking better offers.
December 11, 2018Australia to provide approximately A$50 million for public prosecutions and federal court to expand staff and capacity to litigate banking and financial institution misconduct cases.
November 19, 2018The penalty is far less than the combined A$125mn that NAB, ANZ and CBA paid to settle their own BBSW cases with ASIC out of court.
November 12, 2018The banking regulator is seeking feedback on a proposal to increase the Total Capital requirement for Australia's D-SIBs by 4-5% of risk-weighted assets by 2023.
November 9, 2018ASIC officials will begin working at CBA starting from next week and will go in and out of other institutions, focusing on institutional behaviour and decision making.
October 26, 2018