ME Bank dances to NAB tune

Ian Rogers
National Australia Bank is directing the communications strategies of its client ME Bank. On Friday, NAB prevailed on ME Bank to resist routine interviews with business media on its refinancing of a A$1 billion pool of home loans.

The rationale seems to be that NAB wanted to maximise media interest in ANZ's catch-up on home-loan interest rates and minimise any diversion of media interest, however specialised, to their client's endeavours to revive a source of funding that it was once reliant upon.

ME Bank, which is paying NAB's bills, fell into line with the requirements of its supplier.