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ISCOVER
Jessica Darnbrough
The broker channel has been acknowledged as a key driver of National Australian Bank’s strong profit results.
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Last week, NAB posted an annual cash profit of $5.5 billion.
Speaking to The Adviser NAB Broker’s general manager distribution John Flavell said the bank was more committed than ever to its broker channel and would continue to invest heavily in the third party distribution space.
“As a lender, we will do what we can to create a positive experience for the customer. We acknowledge that we need to collaborate with our brokers. We will continue to pick up the phone, have conversations and work together as one,” he said.
“We will also continue to invest in terms of putting additional people into the field. We have the largest team of relationship managers and we will continue to grow this so we can get out there and deliver good service to our brokers.”
NAB wasn’t the only lender to post strong annual cash profits, with all of the other majors recording solid growth.
ANZ recorded a cash profit of $5.61 billion, while CBA posted a profit of $6.84 billion and Westpac achieved a profit of $6.3 billion.
