National Australia Bank and the Banking Royal Commission

National Australia Bank and the Banking Royal Commission
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National Australia Bank and the Banking Royal Commission
Name of the Student: ________________________________________
Student ID: ________________________________________
Name of the University: ________________________________________

National Australia Bank and the Banking Royal Commission
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Contents
Peer review......................................................................................................................................3
Overview..........................................................................................................................................3
Organizational Background.............................................................................................................3
NAB and its misconduct..................................................................................................................3
The organization’s role within a marketing system.........................................................................4
Ways to improve the structure and functioning...............................................................................5
Key opportunities for NAB.............................................................................................................6
Recommendations for NAB............................................................................................................6
References........................................................................................................................................7

National Australia Bank and the Banking Royal Commission
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Peer review
As desired by you, an Australian company NAB has been chosen for assignment. Also, the
misconduct resolved by the Banking royal commission has been discussed. Path dependency
theory and Social mechanism theory has also been incorporated into the assignment which can
help improve the functioning of the bank.
Overview
The following assignment discusses the impact of the banking royal commission on the
Australian organization, i.e. National Australia Bank. The banking royal commission is a
government agency that inquires on the misconduct in the banking and financial sectors. The
situation of misconduct which led the company land to such a situation shall also be discussed.
Also, suggestions will be enlightened as to how the company can improve its structure and
functioning. The organization’s role from a marketing perspective shall also be highlighted.
Organizational Background
National Australia Bank, popularly known as NAB, is one of the leading banking and financial
companies in Australia. It was founded in 1982 and excels in business, wholesale and consumer
banking, capitalizations and earnings. The bank stands at the 21st position in the world with its
headquarters situated in Melbourne. With an immense strength of around 35000 employees, the
bank’s net income accounts to A$ 7 billion. It has a long chain of around 7,00,000 clients which
run their business by collaborating with the National Australia Bank (Nab.com.au, 2019).
NAB and its misconduct
The National Australia Bank has been serving the customers from several years and amongst one
of the four banks to be involved in the banking royal commission. The bank was questioned by
the commission for submitting inappropriate information in lieu of the misconduct and failing to
come up to the community standards. The CEO of the bank was reportedly seen confessing, that
there were numerous changes underlying the loan programs which are socially unacceptable. In
accordance to this, 2300 home loans were sanctioned by the bank without collecting adequate