NAB chief defends bank's actions and image

National Australia Bank Group, the parent of National Irish Bank (NIB), was "disappointed" at the way it had been portrayed in Ireland, the group managing director and chief executive, Mr Don Argus, said yesterday. Mr Argus, speaking to corporate customers at a lunch in Dublin, said he was confident the success the bank had achieved in Ireland and Britain would continue, according to a supplied script. Mr Argus was in Dublin for his regular quarterly visit to NIB. He was not available for interview and has now left the Republic.

"There are, of course, a number of issues that are testing the resolve of our employees and our customers in the Republic. NIB has been singled out in the Irish financial services for a level of scrutiny that is exceptional by any standards.

"We are disappointed at the manner in which both we as a leading international bank and our subsidiary have been portrayed in this marketplace," Mr Argus said. "We have no fear of objective investigation by the authorities. We are also conducting our own thorough investigations into the allegations made."

Mr Argus said National Australia Bank operated "to high professional standards throughout our group and will ensure that these standards are adhered to in all our operations".

"We stand firmly behind our customers. We strongly support our staff. We will resolve these issues. We will continue to be a force in the Irish banking and financial services sector."