NAB

Financial Context

Illustrative wage differential: if the 7,347+ reported offshore roles were instead employed in Australia at average local rates, the additional cost could be in the order of ~$624M/yr (~8.8% of reported net profit). This is an estimate based on industry averages, not company-specific data.

Would this company be profitable without offshoring?

Every dollar paid offshore leaves the Australian economy, reducing local wages, tax receipts, and economic circulation. Why it matters

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

In Plain English

• In 2026, NAB was reported to have 7,347+ offshore contractors and staff.
• This represents ~19.3% when compared to its current workforce of 38,000 (illustrative comparison only, not directly reported by the company).
• 🇮🇳 5,347+ staff reported in India in IT, Back Office, Customer Support.
• 🇻🇳 2,000+ staff reported in Vietnam in IT.
• Known outsourcing partners include Accenture, Infosys, Tata Consultancy Services, Deloitte, PwC, EY, KPMG, DXC Technology, IBM, McKinsey, Genpact.
• 580 Australian jobs have been cut, with some 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

• May 2026NAB has 5,000 staff in Gurugram and Bengaluru, India, and around 2,000 in Hanoi and Ho Chi Minh City, Vietnam, 7,000 offshore workers in total, ~18% of NAB's workforce. CEO Andrew Irvine visited the Indian operations over two days in March 2026 with his group executive team; a person inside the bank said NAB is open to hiring more than 1,000 additional people across India and Vietnam. The bank added 100 Vietnam staff in March and April 2026 alone. FSU national assistant secretary Nicole McPherson: "The notion that Australia lacks enough skilled workers, especially in technology and engineering, is laughable, given these are the exact types of jobs being targeted in sweeping job cuts." [Australian Financial Review]
• March 2026NAB announced 447 role redundancies offset by 277 new Australian roles, a net 170 Australian job cut, while creating 237 new offshore roles, primarily in India and Vietnam. FSU national president Wendy Streets said the changes would "transfer skilled jobs to lower-cost markets overseas". [Retail Banker International]
• 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]
• 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]
• 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]
• 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]

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