Ask Andrew: On NAB Earnings, the RBA, AI and the Economy
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What is the format of the Ask Andrew episode and who is joining the discussion?
Today a first for the morning call, we take your questions and we put them directly to NAB CEO Andrew Irving. It's Ask Andrew. That's today. The morning call from NAB with Phil Dobby. The weekend edition. Well, Andrew Irvin is back with us again.
What insights did Andrew share from his recent Microsoft CEO Conference trip to the United States?
Nab's not so new CEO, a year into the job now, and uh back from a recent trip to America, where he was one of the attendees at the Microsoft CEO conference. So we'll talk about that today. It was also the week of the RBA decision. Something else to talk about, and Nab's half year earnings as well. Good, but were they good enough? They are all questions for the next half hour. Uh and we've asked you as well for your questions. questions to ask Andrew. Got a heap of questions here for you, Andrew, so I hope you're ready for this. Alrighty. I'm ready. Ready, let's do it. Fantastic. Well look, some people have uh sent in recordings of their questions. The first person who did that was Georgina.
Hello Andrew, Georgina Gunan of Lakeside Advisory. I'm wondering if you could share with us any key themes emerging from your recent discussions with NAB customers, perhaps what they're optimistic about and where their concerns lie. Thanks very much.
So yes, I mean I guess it's not just NAB customers, you can talk about those, but also the you know, the the the the takeouts from from America. What's the climate like in in the US economy?
Yeah, no, I was uh spent a few days in the US last week. Uh I think interestingly the climate there was pretty sanguine. Uh people were uh maybe a bit more relaxed about the trade uh situation and the the approach that the US administration is taking. Obviously in the week we had the announcement around China and the essentially the de escalation of the tariff war between the US and China. And I think a lot of the business people that I spoke to said that look uh I think this is all gonna come at to a reasonable conclusion and uh we were kind of all gonna be fine. So no need to panic. So it was it was very sanguine, whereas you know, I was expecting a little bit more concern amongst the business people that I spoke to about the impact to the US economy of the uh administration's approach and and that wasn't the case.
Interesting. I wonder whether you if you went and had it this week, whether it would be the same. I mean everything is moving so quickly, isn't it? We'll come back and talk about that conference because I want to talk about AI, which I know is a uh a key feature of that uh the discussions you're having there. Uh but uh let's take some more questions. Richard Meilberg says uh we often ask for advice of people in their twenties and the other end of the spectrum, people in their sixties, as to what they should be doing with their money. Um what advice would you give someone, and I know you can't give financial advice, but perhaps you can talk more generally. Someone in their midlife who used to follow Warren Buffett and can't now, of course, were to next?
What investment advice does Andrew give to mid‑life investors facing the wealth‑gap challenge?
Given that we have twenty years left to grow investments, do we continue to follow global funds, which are often US heavy, or do we shift exposure from the US into Japan, China, EU? I mean, yeah. Without giving specific advice, I mean generally
Right, yeah. Well look, I can't give advice, but what I can do is tell you what I do. Yeah. That's helpful. Uh you could probably describe me as someone in middle age. Look, I I reckon first of all, you gotta invest in things you understand. Uh and and I choose to uh do that. I think the next thing I look for is diversification. Um, you know, so I uh I'm pretty connected to the Australian economy in terms of In fact, I own a house. Uh I obviously get some of my pay in NAB shares. And so for me, uh if I have additional capital, I would I would kind of tr choose to diversify it in terms of industry as well as even geographic coverage. Uh and then I like things like ETFs, they're low cost, uh they're diversified instruments typically in a basket of uh of stocks and bonds.
bonds and um also means I don't have to pay as much attention to them as you would with a particular stock.
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Chapters
8 chapters
1
What is the format of the Ask Andrew episode and who is joining the discussion?
0:01–0:17
2
What insights did Andrew share from his recent Microsoft CEO Conference trip to the United States?
0:17–2:48
3
What investment advice does Andrew give to mid‑life investors facing the wealth‑gap challenge?
2:48–5:57
4
How is AI expected to reshape NAB’s commercial operations and improve the customer experience?
5:57–10:00
5
Will AI help unify fragmented banking systems and enhance automation across NAB?
10:00–13:43
6
How can increasing housing supply address affordability and the widening wealth gap in Australia?
13:43–17:32
7
Why is the Australian ‘home‑ownership dream’ becoming harder for younger generations?
17:32–20:28
8
What role will business‑credit growth play versus home‑loan margins for NAB’s future strategy?
20:28–27:13