National Australia Bank (NAB) continues to grow its proprietary lending channel, as reliance on third-party brokers slowly dwindles.
While brokers still settle approximately half of the major bank's home loans, their share has fallen over the past year.
In FY26, or the year ending 30 September 2026, NAB's total proprietary channel home loan drawdowns rose to 50%, up from 41% in FY25, the banking giant revealed on Thursday during its full-year earnings report. That means settlements in the broker channel fell from 59% last year, to 50 percent this year. The numbers do not include digital bank Ubank, which falls under the NAB umbrella.
NAB Chief Executive Officer Andrew Irvine described the results as "progress continued on our three key priorities of growing business banking, driving deposit growth and strengthening proprietary home lending."
The latest update comes as banks continue to push their own in-house lending channels, leaving some market players to wonder about the future of mortgage broking in Australia.
In the case of NAB, the major solidified its proprietary lending capabilities by hiring roughly 150 new proprietary home lenders in 2025's first half, offering a preview of the bank's plans to grow its direct channels while reducing reliance on third-party brokers.
Then in October, NAB revealed plans to eliminate up to 2,500 jobs, or roughly 6% of its staff by FY27. It is unclear whether the restructure will impact broker roles. NAB did not respond to requests for additional comments before publication.
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