NAB

Financial Context

Illustrative wage differential: if the 6,000+ reported offshore roles were instead employed in Australia at average local rates, the additional cost could be in the order of ~$510M/yr (~7.2% of reported net profit). This is an estimate based on industry averages, not company-specific data.

Would this company be profitable without offshoring?

Financial data: FY2024. Estimate uses avg AU cost of $110,000+/yr (salary only, excluding super, office, recruitment) vs offshore $25,000/yr (salary + on-costs). Actual figures vary by role, seniority, and location.

In Plain English

• In 2025, NAB was reported to have 6,000+ offshore contractors and staff.
• This represents ~15.8% when compared to its current workforce of 38,000 (illustrative comparison only — not directly reported by the company).
• 🇮🇳 3,237+ staff reported in India in Customer Support, Back Office, IT.
• 🇻🇳 1,000+ staff reported in Vietnam in IT.
• Known outsourcing partners include Accenture, Infosys, Tata Consultancy Services, Deloitte, PwC, EY, KPMG, DXC Technology, IBM, McKinsey, Genpact.
• 410 Australian jobs have been cut, with all occurring during periods of offshore expansion.

Based on data from public sources at the dates reported. Figures may not reflect current headcount. See sources below for full attribution.

The Story

• September 2025NAB announced 410 job cuts in Australia, with 728 workers total impacted. Simultaneously, 127 new roles were created in India (Gurugram) and Vietnam. [HireNote]
• September 2025FSU President Wendy Streets called the cuts "a significant blow to skilled Australian employees". [Business Standard]
• 2025NAB expanded its Gurugram (India) centre to handle AML/KYC customer verification for Australian customers. [BankingDay]
• 2025NAB outsources at least part of its contact centre operations serving 8.5 million customers. [Matchboard]
• June 2022NAB CEO Ross McEwan: 'No matter how hard I try to find people in Australia, we're not getting the numbers that we need.' NAB had 700 vacancies in data/digital/tech. Bought out Vietnamese partner to own 600-person tech centre in Ho Chi Minh City. Setting up Gurgaon hub near Delhi. [Australian Financial Review]
• June 2023NAB confirmed 3,000 third-party contractors in India and plans to add up to 3,000 more as in-house staff. CTO Patrick Wright: 'We have around 3,000 third-party contractor resources in India that we've worked with for over 15 years, and we want to bring some of them in-house.' NAB was 70% outsourced in 2018, down to 37% by 2022. Also has teams in Ho Chi Minh City and Hanoi, Vietnam. [Australian Financial Review]
• 2025NAB's digital banking and risk management functions are 'largely driven' by its Indian GCCs, supporting product innovation, compliance automation, and customer relationship management. [Inductus GCC Report]

All facts sourced from public reporting. No editorial commentary. Click source links to verify.