Business
‘We have seen in Sydney how quickly things change’: NAB chairman – The Australian Financial Review
NAB’s chairman Phil Chronican has told the bank’s annual meeting the health situation remains volatile but he’s confident the economic recovery will continue.
NAB is operating in a much better economic environment than we anticipated, even just a few months ago, he said.
Relative to other developed nations, we have managed the health and economic challenges well.
NAB believes the economy will be back to 2019 levels of growth by the end of 2021. Yet the recovery will take time, with Mr Chronican saying some companies business models simply dont work in a COVID-19 normal environment, and some households will remain under concerning, financial stress.
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