NAB Chair Philip Chronican and CEO Andrew Irvine addressed shareholders at NAB’s 2024 Annual General Meeting (AGM) in Melbourne today.

A transcript of the Chair and CEO speeches is available via the ASX.

Chair Philip Chronican reflects on the momentum built in NAB’s performance over the past five years.

“During the past five years, NAB, our colleagues and our customers have benefitted from strong and stable leadership focused on consistent and disciplined execution of the Bank’s strategy. This has led to renewed strength, stability, and momentum in the Bank,” Mr Chronican said.

“These attributes allow us to support our customers and the economy through cycles, including during the current period of high inflation and the impact of the higher cost of living.

“NAB is in good shape with good momentum and there is more we want to do to fulfil the ambition we hold for this organisation.”

CEO Andrew Irvine talks to the Australian economy and the cost of living challenge.

“Despite headwinds internationally and domestically, Australia’s economy is in reasonable shape and we are optimistic about the longer-term outlook,” Mr Irvine said.

“Business conditions are favourable and the job market is resilient, positioning us well compared with global peer economies.

“Restrictive interest rates are working to bring inflation into the Reserve Bank’s target range, and we do expect to see rates decrease in the first half of 2025.

“In the meantime, we do recognise that many customers are finding the higher cost of living challenging and we are here to help. Our message is clear, please call us and call us early.”