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Head of NAB next bank CEO to be questioned

The head of National Australia Bank is set to be grilled by federal politicians about the “appalling behaviour” uncovered at the banking royal commission.

Andrew Thorburn will face the House of Representatives economics committee at a public hearing in Canberra on Friday.

He is the final chief executive from the big four banks to be questioned by the group this month.

Commonwealth Bank’s Matt Comyn and Westpac’s Brian Hartzer fronted the committee last Thursday, while ANZ’s Shayne Elliott appeared the day after.

Mr Comyn and Mr Hartzer each acknowledged their institutions took too long to address misconduct that was eventually uncovered by a royal commission.

They also admitted they have their work cut out regaining the public’s trust.

“From an overall reputation point of view, this is obviously going to take years to restore,” Mr Hartzer said.

Mr Elliott said he was “appalled” to learn through the banking royal commission what impact the institution has had on some Australians.

The financial harm and emotional stress on customers was completely unacceptable, he said.

All three chief executives outlined their organisation’s plans for turning things around, including clearer accountability.

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