Ross Greenwood unleashes on NAB after ‘hollow’ apology

Ross Greenwood has ripped into National Australia Bank boss Andrew Thorburn for his “hollow” apology to customers who were failed by the bank. 

NAB could face criminal sanctions as a result of an investigation by the corporate regulator.

Its superannuation business has been accused of charging fees for no service and deducting fees from dead clients.

The inquiry also heard the bank tried to withhold evidence from the commission, but that was overturned.

Andrew Thorburn took to Twitter today to say the company is fixing its mistakes.

This week we’ve been confronted at the Royal Commission with examples of where we have failed to serve our customers with honour. I’m sorry. And my commitment is that we will learn and get better, so we can once again be a bank you respect and trust. pic.twitter.com/yMGq7icgVu

— Andrew Thorburn (@AndrewThorburn) August 9, 2018

But the apology has Ross fired up.

“Given what’s taken place… I think this response is hollow.

“In fact, I think it’s pretty poor.

“It’s not good enough to apologise, especially given the fact you’ve sought to cover this up for not just the past four days but for the past couple of years.”

Ross questions why Thorburn didn’t listen when mistakes were first brought to light within the company years ago.

“Why did they negotiate with ASIC to try and minimise the impact of publicity?”

“Banks need to do better than that.

Willing to cut banks “slack” for failures like the ATM systems crashing, Ross slams the bank for not fessing up to their mistakes before they were revealed.

“If you’ve got mistakes in there, fess up before they’re found because the royal commission, it seems is, doing a very good job of uncovering them themselves.”

Click PLAY below to hear Ross’ comments in full below