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The comments come as housing moves to the forefront of political debate, and as the construction industry warns that the supply of new homes would crash to the lowest level in more than a decade by 2026, leaving the federal government well short of its target to build 1.2 million houses by mid-2029.
McEwan, who joined NAB in 2019 in the aftermath of the 2019 financial services royal commission, is widely credited with turning around the company following two decades marred by mistakes, scandal and underperformance.
McEwan said it was important for banks to stay relevant to customers and remain strongly aligned with the purpose of banking: to help customers with their financial needs.
“I think the biggest challenge going forward is holding on to the great work that’s been done since the royal commission, the refocusing of all of our colleagues on to doing good things for customers…[to] stay on course and stay on target for looking after customers,” he said.
McEwan will step down from the chief executive role on April 2, with the group’s head of business and private banking, Andrew Irvine, to take over following a transition period, and McEwan to retire on July 1.
Despite the challenges facing Australia’s economy and its banking landscape, McEwan said he remained optimistic. “We’ve got so much going on for this country and people want to come to this country,” he said. “So, I think this is a place to be very optimistic about, and the same for my own country of New Zealand.“
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