Published: September 09, 2018
Bank to leave standard variable rate unchanged despite lift in rates by Westpac, Commonwealth and ANZ
The National Australia Bank is keeping its variable mortgage rates on hold despite moves by its big three rivals to hike rates in response to increased funding costs.
NAB’s chief executive, Andrew Thorburn, indicated the bank’s decision was a direct result of an environment in which huge profits and revelations of misconduct aired at the royal commission had damaged the big banks’ public standing.
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