NAB releases results in new format

AAP

NATIONAL Australia Bank Ltd has released financial information for the past two fiscal years in the format that it will use in future, beginning with the bank's 2010 financial results.

The bank re-released the 2008 and 2009 information in the new format, to allow more meaningful comparisons when future results are posted.

The new operating structure, introduced in 2009, put in place a flatter management structure, emphasised customers and relationship banking and increased the level of disclosure at a business unit level, Melbourne-based NAB said in a statement on Tuesday.

NAB said the main changes included removing the Australian region operating structure, with business banking and personal banking becoming direct reports to the chief executive.

NabCapital was restructured and renamed wholesale banking, and certain elements of nabCapital were moved to a new business unit.