NAB catching up, but slowly
National Australia Bank chief executive for Australia and Asia, Ahmed Fahour, said acquisitions were off the table for the bank until 2007. “I think then we'll begin being truly competitive and start to be externally and internationally orientated in our views and aspirations and our growth. Then we'll start looking at acquisitions,” he said.
Fahour said of NAB’s recovery plans: “If we're running a race, our competitors are still ahead. But the distance that they were a year ago versus today is shortening and I've got significantly stronger legs than they have.”