Many of the issues that impact our ability to serve customers cannot be addressed by one company alone. We believe that our industry association memberships and initiatives provide direct benefit to NAB’s long-term success including:
- access to industry research.
- engaging in industry-wide policy discussions across a range of issues.
- opportunity for networking with our industry peers.
- access to key policymakers.
- a further avenue to support the community, particularly memberships of regional business chambers which we hold.
In addition, NAB recognises the role of its industry associations in terms of contribution to public policy and advocacy on issues of importance to NAB’s business, customers, shareholders and the community. The diverse membership of some industry associations means there will be a diversity of opinion on particular issues. We may not always share the public views of individual members of an association, or an association as a whole.
However, by maintaining membership in our industry associations, we can share knowledge and data, and encourage policy advocacy and actions broadly aligned with our own views, including on climate change and the environment. Membership also allows us to advocate within the association for a change in policy and actions to be more aligned with our own views and approach. When an industry association’s position on an issue varies significantly from NAB’s public position, we raise this directly with the leadership of that association, and take this into account at the time of membership renewal.
In 2020, our key industry association payments included:*
Australian Banking Association - $2,949,492
Business Council of Australia - $93,500
New Zealand Bankers’ Association - NZ $324,417
BusinessNZ - NZ $38,512
*Expenditure includes GST and covers the period 1 October 2019 to 30 September 2020