LENDING & CREDIT | Tony Chua, Australia

NAB CEO allays fears on home loan debt

Clyne said the current European financial crisis has yet to affect its funding costs.

Cameron Clyne has insisted the bank has not seen an increase in home loan arrears, despite recent concerns.

The chief executive of National Australia Bank (NAB) has sought to assuage concerns over home loan debt, telling delegates at a business forum the group has not observed an increase in arrears.

Speaking at an event in Melbourne on Tuesday, Cameron Clyne also insisted that the ongoing fiscal crisis in the eurozone had not as yet resulted in a significant climb in its funding costs, Reuters reports.

In response to a question about mortgage delinquencies, he said NAB had not "experienced that uptick in arrears". The bank has recently stepped up its presence in the home loans sector, despite previously being seen as primarily a business lender.

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