NAB faces a record-breaking revolt over its executive pay regime,with chairman Ken Henry set to admit the bank got it wrong on remuneration this year.
Fraud squad police have raided the home of NAB chief executive Andrew Thorburn’s former chief of staff Rosemary Rogers as part of a bribery investigation sparked by an internal bank whistleblower.
National Australia Bank chief executive Andrew Thorburn has admitted the lender paid incentives that were"bait"for people to engage in misconduct.
The top brass of Australia's banking sector continue in the Hayne royal commission witness box in the final week of public hearings.
NAB chief Andrew Thorburn is expected to face questions over $100 million in wrongly charged advice fees,as the royal commission's final week kicks off.
When bank CEOs face the royal commission next week,it will be fascinating to see if the cut in bonuses is deemed punishment enough for the recent scandals.
The royal commission and unintended breaches of company policies have prompted NAB's board to reduce the bank boss's pay.
NSW detectives are seeking information from the bank about an allegedly corrupt company's decision to pay for the holiday and an expensive kitchen appliance.
Results from ANZ and National Australia Bank this week laid bare the cost of misconduct that has been uncovered by the royal commission.
National Australia Bank's subdued performance reflects the tough environment,the impact of the royal commission and its own radical restructuring.
NAB's CEO also revealed more than 300 staff had been sacked or left the bank this year after investigations into potential code of conduct breaches.