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‘We have not done the right thing’: NAB CEO

‘We have not done the right thing’: NAB CEO

Jessica Yun
— 1 minute read

The boss of NAB has penned a letter of apology to the community, admitting to the “regrettable” and “unacceptable” conduct of the bank ahead of the latest round of royal commission hearings.

Ahead of NAB’s first appearance at the royal commission into banking and financial services which resumed on Tuesday, 13 March, NAB chief executive Andrew Thorburn published an open letter addressed to “customers, employees, shareholders and the community”.

“As we’ve responded to the royal commission’s requests for information over the last few months, it’s an important and confronting reflection point for us that there have been times in the past where we have not done the right thing for our customers,” Mr Thorburn wrote.

The reason for NAB’s appearance at the royal commission yesterday was “regrettable and unacceptable”, he said.

In order to prevent repeat incidences of wrongdoing, Mr Thorburn said the bank is continuing to strengthen systems and processes.

“The simple fact is that none of these issues are acceptable,” he continued.

“They should not have happened in the first place, and they show that we haven’t always done right by our customers or treated the community with respect. This is not good enough.”

Mr Thorburn said the bank is moving forward by “owning up to mistakes and fixing them”.

“My commitment to you is that you will see NAB act throughout the royal commission and beyond in an open and transparent way.”

He called upon concerned customers who might be “disappointed, frustrated or angry” to make a submission to the royal commission and said the bank would be “fully supporting” employees called upon by the royal commissioner.

 

‘We have not done the right thing’: NAB CEO
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