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UBS Financial Services Conference, 25 June 2014

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UBS Financial Services Conference, 25 June 2014 UBS Financial Services Conference 25 June 2014 Gavin Slater Group Executive, Personal Banking National Australia Bank Limited ABN 12 004 044 937 Important note on these presentation slides This document is a visual aid accompanying a presentation to analysts by Gavin Slater, Group Executive Personal Banking, on June 25 2014. It is not intended to be read as a stand-alone document. It contains select information, in abbreviated or summary form, and does not purport to be complete. It is intended to be read by a sophisticated investor audience familiar with National Australia Bank Limited and its March 2014 Half Year Results, and to be accompanied by the verbal presentation. This document should not be read without first reading the National Australia Bank Limited March 2014 Half Year Results, which has been lodged with the Australian Securities Exchange and is available at www.nab.com.au. The Group’s financial statements, prepared in accordance with the Corporations Act 2001 (Cth) and Australian Accounting Standards, and reviewed by the auditors in accordance with Australian Auditing Standards, are included in Section 5 of the 2014 Half Year Results Announcement. Note: • The inclusion of percentage changes in brackets in this document indicates an unfavourable movement on a prior comparative period. • This document is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice, when deciding if an investment is appropriate. • This document contains certain "forward-looking statements". The words "anticipate", "believe", "expect", "project", "forecast", "estimate", “outlook”, "likely", "intend", "should", "could", "may", "target", "plan" and other similar expressions are intendedto identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Group, which may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. 2 Benefits of updated operating model Operating model Benefits of integrated model z Improved level of accountability, including introduction of 165 performance units (PUs) with KPIs and financial metrics (25 PUs within Personal Banking) Business Personal NAB Banking Banking Wealth z Greater transparency on product returns and profitability by segment and channel z Cost efficiencies through the removal of duplicated functions z Increased skills and capabilities via establishment of ‘centres of excellence’ across business functions Products & Markets Personal Banking’s role Enterprise Services & Transformation z Consumer and small business customers z Distribution channel management: o Retail (store network) Risk o Digital and Direct (online and contact centres) o Growth Partnerships (broker/third party distribution) Finance and Strategy o Small Business (customers with <$1m in business lending) People, Communications and Governance z Marketing and digital capabilities across the enterprise 3 Consumer banking landscape Australian housing and personal credit growth1 Highly leveraged households2 (%) Household Debt (% of gross disposable household income) Housing 25 180% 20 15 120% 10 5 0 Personal 60% -5 -10 0% Jan 00 Jan 02 Jan 04 Jan 06 Jan 08 Jan 10 Jan 12 Jan 14 Australia Canada UK USA France Germany Growth in broker share of mortgage market3 Shift to digital (%) NAB value transactions by channel (m) Broker share of new loans 50 12% 45 (11%) (7%) 1000% 40 (29%) 35 30 Branch ATM Phone Banking Internet Banking Mobile Jan 09 Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 1H11 1H14 (1) APRA, RBA, NAB (2) OECD, ABS 2012 (3) DFA / JPMorgan 4 Good progress to date Australian housing lending1 and household Personal Banking mortgage outstandings deposit market share2 growth by channel (%) ($bn) 11% 47% 15.3 15.4 14.7 14.8 14.8 14.8 14.1 14.0 13.6 91.6 94.3 69.4 13.3 13.1 85.1 88.5 65.4 12.8 55.6 47.2 Sep Sep Sep Sep Sep Mar Sep Sep Sep Sep Sep Mar 09 10 11 12 13 14 09 10 11 12 13 14 Sep 11 Sep 12 Sep 13 Mar 14 Sep 11 Sep 12 Sep 13 Mar 14 Housing market share Deposit market share Retail, Direct and Small Business Broker Net transaction account growth and total Retail MFI customer satisfaction4 consumer customers3 (%) 4.3 4.0 4.1 83.5 3.8 3.6 3.7 81.0 78.5 76.0 73.5 157,810 151,613 147,279 146,129 147,899 144,284 71.0 68.5 Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 Net transaction account growth (#) Total Personal Banking customers (m) NAB Weighted average of three major bank peers (1) RBA Financial system (2) APRA Banking system (3) Excludes Small Business, Advantedge and UBank customers (4) Roy Morgan Research, Aust MFIs, population aged 14+, six month moving average. Customer satisfaction is based on customers who answered very/fairly satisfied. NAB compared with the weighted average of the three major banks (ANZ, CBA, WBC) 5 Optimising Retail (store network) performance Key areas of focus - Retail Retail mortgage sales z Sales uplift and increased sales effectiveness 24% z Footprint optimisation – target of 25% reduction in floor space z Continued roll-out of in branch self-service machines 1H13 2H13 1H14 Mobile Banker sales Cross-sell of NAB insurance products via Retail 38% 99% 61% 9% 1H13 2H13 1H14 1H13 1H14 May 14 # of 1H13 1H14 73 bankers 91 110 NAB mortgage protection sales1 General insurance sales (1) Provides insurance cover to a borrower to assist them paying their mortgage in the event of illness, redundancy or inability to work through disability 6 Unique position in Broker distribution Participate in the broker market in three different, Total mortgage broker market (~12,000 brokers) complementary ways: NAB owned platforms (Advantedge) • Own three aggregation ~3,500 brokers NAB white Other platforms servicing ~29% label partners ~7,500 brokers of brokers in the market ~1,000 brokers Plan Choice Fast • Distribute NAB branded mortgages through active and accredited brokers NAB Broker (Homeside and NAB branded mortgage distribution) across all platforms • Manufacture white label White label White label mortgages mortgages for our owned mortgages Potential future partners (PlanLend, ChoiceLend, FastLend) platforms and other (partners) partners 7 Capitalise on our unique Broker position Key areas of focus – Broker Mortgage outstandings via Broker ($bn) z Rebrand Homeside to NAB 47% z Continue to leverage and grow our Plan, Fast and Choice aggregation platforms 69.4 z Continue to grow our white label lending volumes 65.4 55.6 (PlanLend, FastLend, ChoiceLend and other partners) 47.2 z Optimise servicing and commission structure Sep 11 Sep 12 Sep 13 Mar 14 Broker mortgage 90+ DPD and impaireds as % to Lending via Broker vs major bank peers1 total mortgage outstandings % 1H14 mortgage flows % 1H14 mortgage balances1 1.6% 47 44 43 1.2% 38 37 34 29 0.8% 0.4% 0.0% NAB CBA WBC ANZ NAB CBA WBC Mar 09 Sep 09 Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 (1) As per peer 1H14 disclosures. ANZ % of mortgage balances not disclosed 1H14. 8 Accelerate Digital and Direct (voice) capability Key areas of focus – Digital and Direct Continued migration to digital self-service (%) z Enable self-service migration through internet banking % of value transactions via digital channels and mobile internet banking 70 64 66 67 60 61 z Continue to lift online sales volumes 469 12 15 19 z Continue strong performance in inbound and outbound 56 direct sales 55 55 54 52 51 z Enhance mobile capability including sales and leads Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 (analytics) Internet Banking Mobile Digital and Direct - Growth in mortgage redraw Direct - Growth in mortgage sales and credit card and personal loan opens Mortgage redraw Credit card opens Personal loan opens 34% 50% 66% 38% 1H13 1H14 1H13 1H14 1H13 1H14 1H13 2H13 1H14 9 Conclusion z Good momentum in Personal Banking z New operating model providing valuable insights z Optimised Retail (store network) to drive improved sales and productivity performance z Unique Broker position a key driver of mortgage market share growth z Digital and Direct capability an opportunity for strong growth z Integrated customer experience key 10 Questions Appendix Personal Banking leadership team Gavin Slater Vicki Carter Anthony Waldron Adam Bennett Group Executive EGM Retail EGM Growth EGM Digital & Direct Personal Banking Partnerships Banking (Broker/3rd party) 15 years at NAB 15 years at NAB 11 years at NAB 10 years at NAB 28 years in industry 29 years in industry 23 years in industry 11 years in industry David Bannatyne Sandra de Castro Jodi Heath Bob Melrose GM Small Business CMO, Marketing Executive Manager GM Business Management 9 years at NAB 5 years at NAB 4 years at NAB 40 years at NAB 14 years in industry 20 years in industry 4 years in industry 40 years in industry Sarah White Anja Pannek Jacqui Colwell Todd Reichmann GM People GM Finance Chief Risk Officer GM Personal Personal Banking Partner Personal Banking Banking Strategy Personal Banking 25 years at NAB 10 years at NAB 31 years at NAB 3 years at NAB 25
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