NAB Group CEO Andrew Irvine has stated that the bank is effectively managing its business amid ongoing challenging operating conditions. "NAB is in good shape, has a clear strategy and the business is well placed for the long term," said Mr. Irvine.
Six months prior, NAB updated its strategy to become more customer-centric, aiming to be simpler and faster. Mr. Irvine noted, "We have plenty of work ahead, but NAB is tracking in the right direction." He outlined three priorities: growing their core business banking franchise, enhancing performance in deposits, and improving proprietary home lending.
Highlighting NAB's position in a competitive market, Mr. Irvine said that their business bank acts as a key differentiator due to scale and expertise across their franchise backed by deep customer relationships. "I’m pleased NAB is the biggest business lender and we are now the largest bank in business deposits and have improved our share of household deposits," he stated.
Mr. Irvine also mentioned an increase in SME lending over the past six months with intentions to expand this area further rather than merely maintaining it.
The bank declared an interim dividend of 85 cents per share amounting to $2.6 billion distributed among shareholders. "As more than 40% of our shareholders are retail investors, this is significant for the many mums and dads and retirees who depend on dividends for their income," Mr. Irvine explained.
He emphasized that while NAB focuses on becoming simpler and faster with greater customer focus, safety and stability remain integral features of the bank alongside strong balance sheet settings.
Discussing Australia's economic situation, Mr. Irvine acknowledged recent dramatic shifts in global economic policy during early 2025 but expressed confidence about Australia's standing amidst such changes: "Uncertainty might be uncomfortable for businesses and households, but overall Australia entered this period in good shape."
He pointed out low unemployment rates along with easing inflation trends contributing positively towards anticipated growth which provides capacity for potential future cash rate cuts should global challenges arise.
The ASX announcement along with NAB CEO Andrew Irvine's 2025 Half Year Results VNR can be accessed online where viewers can watch his discussion on these results through video content available on their platform.