NAB to shutter Hong Kong office

National Australia Bank has announced that it will shut its branch in Hong Kong to focus its Asia Pacific efforts elsewhere in the region.

In a statement, the bank said that its offices in Singapore, Tokyo and Shanghai had emerged as preferred customer outreach hugs in Asia. NAB said that it is “too early” to confirm the impact of the branch closing, with around 50 roles likely to be impacted.

NAB’s Hong Kong wind down will take around 18 months, the bank added.

Krista Baetens, NAB Executive, Asia, said: "These offices play an important role in markets, distribution and trade finance.

"The decision was made following a thorough assessment of our strategy and reflects our ambition to align our Corporate and Institutional business with the greatest opportunities for NAB and our clients. Our global greater China customers and investors will be well served from Shanghai and other branches in Asia, UK, Europe, US and from our head office in Australia."

The news comes after the Finance Sector Union earlier this month said that NAB was planning to cut 222 back-office jobs.

    Share Story:

Recent Stories


Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.

Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.

Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.