NAB embarks on 12-week review

The National Australia Bank has launched a program that will examine opportunities to maximise the organisation's revenue, reduce cost structures and use resources more efficiently.

The Positioning for Growth program, designed to ensure the organisation continues to meet its performance objectives, will have a long-term focus, , managing director and CEO, NAB Frank Cicutto said.

An NAB spokesperson said it is too early to pre-empt how or if the organisation's IT department will be affected, or if IT spending will be reduced.

Cicutto said in a statement that the organisation would be strengthened and invigorated through the simplification of its structure, systems and processes, and the development of its talent base.

McKinsey and Company is assisting the NAB in an initial three-month review of operations, which is under way.

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