Proprietary channel keeps gaining ground
Despite the softer market, NAB’s home lending grew in line with system, excluding the wind-down of its white-label Advantedge business.
The bigger story was the continued shift in origination mix: drawdowns through NAB’s proprietary channels improved from 47.7% in the first half of 2026 to 50.9% in the third quarter, meaning brokers now account for less than half of new drawdowns for the first time in this reporting cycle.
The shift builds on a trend NAB flagged earlier this year, when it confirmed proprietary lending had surged following a hiring spree of new home lending bankers. NAB is also progressively closing Advantedge, the white-label product sold through major aggregator and broker networks, a decision it flagged as part of its move away from lower-margin white-label mortgages.
Elsewhere, the bank’s capital position strengthened, with its Common Equity Tier 1 (CET1) ratio rising to 11.93% on a Level 2 basis, above its operating target of greater than 11.25%.
Group customer deposits rose 2% in the quarter, including 3% growth in transaction account balances within its business and private banking division.