NAB invests in growth areas in NSW and Queensland

National Australia Bank said it was undertaking a “major reinvestment program” in New South Wales, and would open further bank branches in NSW and also in Queensland. Fund managers said the investments were in response to changing demographics, and that NAB was under-represented in areas of above average population growth. Research by Macquarie Securities found that NAB's branch achieved the best mortgage sales and growth per branch of the five major banks.