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Created before Nov 2016
Last update: 2017-05-19 11:53:38
Johan Frijns, BankTrack
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The National Australia Bank Group is one of the four biggest banks in Australia. It was founded in 1982 as the National Commercial Banking Corporation of Australia Limited. The Group is structured around regional banking and wealth management operations, active in international capital markets and institutional banking business. Its subsidiaries include MLC and Bank of New Zealand.
At the end of 2016 NAB controlled assets worth AUD778 billion. In 2016 it divested its UK subsidiary Clydesdale and Yorkshire Banking Group, following the 2015 sale of its US subsidiary Great Western Bank, as part of a process of refocusing on its core markets of Australia and New Zealand.
800 Bourke St W, Docklands
Victoria 3008 Melbourne
Andrew Thorburn |
Dig Deeper 2016|
Annual Financial Report 2016
listed on Australian Securities Exchange
Publicly listed in Australia and overseas.
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Voluntary initiativesNational Australia Bank (NAB) has committed itself to the following voluntary standards:
Go here for an overview of the bank's sustainability policies.
National Australia Bank (NAB) and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. National Australia Bank (NAB) adopted the Equator Principles in 2007.
Reporting on the Equator Principles
National Australia Bank (NAB) must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
National Australia Bank (NAB) is involved in financing the following Equator Principles projects that BankTrack considers controversial.
Liquified Natural Gas (LNG) project Papua New Guinea
Woodlark Island Kula Gold Project Papua New Guinea
True leader Front runner Follower Laggard
BankTrack has assessed National Australia Bank (NAB) on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. National Australia Bank (NAB) is assessed as a Laggard, with a total score of 3/12.
Implementation and reporting
National Australia Bank (NAB) is reporting on the implementation here.
Contact and complaints
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NAB moves in the right direction on Land Grabs
In November Oxfam congratulated National Australia Bank on taking a significant step forward in playing their part to stop unfair land deals that leave people around the world homeless and hungry. The NAB took the step of releasing a policy on improper land acquisitions which clearly outlines what actions the bank will take to seek to ensure their business dealings respect land rights. Read the Oxfam Australia news story.