NAB targets tech with $2b funding boost

National Australia Bank has pledged an extra $2 billion in funding for emerging technology-based businesses that often find it hard to obtain finance, as it eyes a bigger slice of a key growth market. The country's biggest business bank will on Thursday commit to arranging or lending the money over the next five years. The majority of the funding will […]

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NAB eyes partnerships with Israeli groups to further big data strength

National Australia Bank is in discussions with two Israeli artificial intelligence and biometrics groups about ways to further the bank’s big data capabilities and to protect customers from emerging types of financial crime. NAB is mulling a relationship with the biometrics specialist group to further develop the ways it identifies suspect behaviour by cyber criminals, and it has already run […]

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NAB floats compromise in small business loan debate

National Australia Bank has put forward a compromise in the debate over which firms banks should treat as  "small businesses," extending protections to customers with total debts of up to $5 million. While banks have accepted most of the royal commmission's 76 recommendations, a key sticking point has been its call for a much wider definition of a small business […]

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NAB chief Andrew Thorburn to get $1m exit payment

Outgoing National Australia Bank chief Andrew Thorburn will receive an exit payment of more than $1 million plus leave entitlements, and resigning chairman Ken Henry will no longer lead the search for Mr Thorburn’s replacement. NAB chief Andrew Thorburn is leaving at the end of the month.Credit:Eddie Jim NAB, which has been embroiled in leadership turmoil since Mr Thorburn and […]

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NAB chief executive and chairman both resign after horror week

National Australia Bank's leadership is in disarray, with chairman Ken Henry and chief executive Andrew Thorburn both resigning following blistering criticism from the banking royal commission and a deepening crisis over alleged rorts by a former senior staffer. After a horror week for the bank, it announced on Thursday night that Phil Chronican, a board member, would act as chief […]

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NAB shares in trading halt as bank set to announce leadership changes

National Australia Bank is preparing to announce changes in its leadership, days after chairman Ken Henry and chief executive Andrew Thorburn were sharply criticised in the banking royal commission. NAB on Thursday afternoon requested a trading halt "pending an announcement by NAB regarding leadership changes", which it expected to make later in the afternoon. It is not clear what the […]

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NAB admits it ‘too often’ failed to put clients’ interest first

National Australia Bank's board has vowed to put more weight on customers' interests when making strategic decisions, after the bank admitted it too often failed to put clients first, took too long to fix problems, and didn't sufficiently hold people to account for poor behaviour. The bank's critical "self-assessment," which all major banks were made to carry out after a scathing […]

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