NAB under Andrew Irvine: business banking strong, investor housing the weak spot
More than two years into Andrew Irvine’s tenure, NAB is outperforming the banking system in business lending but losing ground in investor mortgages.
Andrew Irvine took over as NAB Group CEO on 2 April 2024, succeeding Ross McEwan. More than two years into his tenure, APRA’s monthly banking statistics show a mixed but generally solid market-growth record.
The standout is business lending. NAB’s business loan book has grown 24.8% since Irvine’s appointment, ahead of the 23.9% increase across all ADIs, although slightly behind the 27.0% growth recorded by the major banks. Business lending covers credit provided to companies, small businesses and other commercial borrowers.
Housing is more uneven. Owner-occupied housing lending — mortgages for borrowers living in the property — has risen 13.0%, ahead of the major-bank average of 12.0%, but below system growth of 14.1%. Investment housing lending, covering mortgages on rental or investment properties, has increased only 6.2%, far below the 17.3% system increase. As a result, total housing lending growth of 10.3% trails all ADIs by 4.8 percentage points.
Resident deposits — deposits held by Australian households, businesses and other residents — have grown 17.4%, broadly matching the majors and system.
Overall, Irvine’s NAB is defending or gaining ground in business banking and owner-occupied mortgages, while investor housing is the clear weak spot.
The figures are from APRA’s Monthly ADI Statistics for July 2026 and measure changes in outstanding balances, rather than new lending flows.