NAB reclassifies household data

27 August 2015

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As part of its regulatory reporting obligations, NAB has reclassified certain household data that it previously provided.

The data being restated covers portfolio and flow information between July 2014 and June 2015, and includes a restatement of owner-occupied housing from $165.4 billion to $126.5 billion, investor housing from $66.6 billion to $93.0 billion and non-housing from $11.5 billion to $23.7 billion.

NAB said the reclassification has no impact on customers and does not alter risk-weighted assets, regulatory capital, cash earnings, balance sheet or risk appetite.

Angus Gilfillan, executive general manager of consumer lending at NAB, said the bank was committed to taking the appropriate action to correct its data reporting.

“This has no impact on our customers and is a simple reclassification of data,” he said.

NAB said the reclassification reflects the bank’s commitment to fulfilling its regulatory obligations, and forms part of an ongoing review to improve the statistical process.

The bank said it will continue to review previously submitted regulatory information and make changes as necessary.