4 May 2023


Today’s record NAB profit underlines why overworked and underpaid staff at the bank must receive fair pay increases in the current round of Enterprise Agreement negotiations.

The NAB’s massive $4.1 billion profit result has been achieved as a result of the hard work of more than 30 thousand staff who have watched in amazement as the bank’s senior executives continue to reject claims from the FSU for a decent pay rise and an end to ‘sweat-shop’ working conditions.

“Finance Sector Union members have been calling for fairness and certainty in their pay and today’s profit result demonstrates that NAB can deliver better wages to staff,” said FSU National Secretary Julia Angrisano.

“Our members, like the rest of the community, are experiencing the pain of inflation in every financial decision they make and now NAB has the opportunity and responsibility to do the right thing.”

Ms Angrisano said the NAB’s media release today recognised the bank had ‘more to do to achieve our ambitions of top quartile colleague engagement.’

“The only metric NAB staff are talking about is how many extra hours of unpaid work they are being forced to do by the unrealistic expectations placed upon them by senior executives,” she said.

“We know this bank has a record of treating its staff appallingly and that must stop.”

“The NAB is well aware that to go even close to becoming a good employer it must lift wage rates and reform its exploitative working conditions.”

“If CEO Ross McEwan and the highly paid NAB senior executive team were serious about becoming a ‘top quartile’ employer, they would scrap the discretionary pay system and ensure their colleagues were able to leave work on time.”

“The FSU is calling on the NAB to resolve these ongoing negotiations for a new Enterprise Agreement on terms that will ensure members can meet the cost of living crisis for them and their families.”

Media contact John Hill 0412 197 079

Authorised by Julia Angrisano, National Secretary