Sydney, February 24, 2026, 16:57 AEDT — Market closed.
- National Australia Bank shares closed up 1.0% at A$48.37
- NAB flagged an executive transition, with CFO-start and risk-chief succession now in view
- Traders head into Wednesday watching Australia’s January inflation print and tariff-driven risk jitters
National Australia Bank Limited shares rose 1.0% to close at A$48.37 on Tuesday, after the lender outlined executive changes that set up a new finance chief and a longer runway to replace its top risk executive. The stock ranged from A$47.58 to A$48.49, with about 4.75 million shares traded. (Investing)
The timing matters for bank investors because the sector has just come out of a strong February reporting season and valuations are now the fight. Analysts at Macquarie and Morgan Stanley have warned that the run-up leaves less room for a fresh re-rating, with major banks trading on price-to-earnings multiples near multi-year highs, Market Index wrote. (Market Index)
Macro noise has not helped. Markets have been digesting renewed uncertainty around U.S. President Donald Trump’s tariff stance, while local attention turns to Australia’s January inflation data due on Wednesday — a release that can shift interest-rate expectations in a hurry. (Business Recorder)
NAB said long-standing executive Shaun Dooley will retire by the end of 2026, while incoming chief financial officer Inder Singh will start on March 2, after which Dooley will revert to the role of group chief risk officer. “Shaun has been an outstanding contributor,” CEO Andrew Irvine said in a statement. (NAB News)
Dooley, a 33-year veteran, has been the bank’s chief risk officer since 2018 and has been acting group CFO since March 2025, the bank said. NAB said it will run a recruitment process for the chief risk officer role.
The shares have been trading near highs since the bank reported a 16% rise in first-quarter cash earnings earlier this month, helped by stronger business and home-lending performance, Reuters reported at the time. (Reuters)
NAB’s latest update also lands as investors weigh relative value across the “Big Four” lenders — Commonwealth Bank, Westpac and ANZ — after each has delivered results in recent weeks.
Still, the downside case hasn’t vanished. Leadership handovers can complicate execution, and the bank has faced fresh scrutiny around scams after it issued a statement on Monday about a customer case, saying it had met with the customer and would strengthen protections across uBank and NAB. “Scams can happen to anyone,” NAB executive Craig Swinburne said in that statement. (NAB News)
For the next session, traders are likely to keep one eye on Wednesday’s inflation reading and any knock-on move in rate expectations, which can ripple through bank margins and funding costs.
