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PM Tony Abbott launches NAB’s sixth Reconciliation Action Plan

The Prime Minister, the Honourable Tony Abbott, this morning launched NAB’s sixth Reconciliation Action Plan (RAP) with NAB Group CEO, Cameron Clyne, outlining NAB’s continued commitment to Indigenous Australia.

The only RAP in Australia to be independently assured by an external auditor, the document outlines NAB’s performance and targets in the areas of financial inclusion, employment, business relationships, cultural understanding and a new focus on innovation.

In 2013 NAB ensured that:
– More than 1,150 clients improved financial capability through the Indigenous Money Mentor program. A report on the program found that it created $4.20 in social value per dollar invested.
– The number of Indigenous employees at NAB increased by 13% to 161.
– 74% more Indigenous trainees were offered real jobs at NAB following their traineeship.
– The number of staff seconded to Indigenous organisations was up by 71% to 29.
– More employees received cross cultural training, increasing by 31% to 230.
– More than 15 Indigenous suppliers were engaged with NAB procurement via education sessions, direct engagement and tier 1 supplier introductions.

Cameron Clyne, NAB Group CEO said NAB has chosen for its RAP to be reviewed by EY for the second year running to ensure that its corporate Indigenous programs are effective and outcome focused.

“Corporate Australia is transparent in its promises to shareholders. We need to extend the same courtesy to Indigenous Australia if we are to play a role in addressing Indigenous disadvantage.

“This is why we have invested in having our RAP independently assured and focused on measuring the impact of our programs. We believe our promises to Indigenous Australia should be opened up to scrutiny and I would encourage other corporates to join us in this practice,” he said.

See NAB Media Release for further information.

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