National Australia Bank chief executive Andrew Thorburn has laid bare a culture where profits came before people and banked incentives rewarded bad behaviour.
In his opening statement to a parliamentary committee grilling major bank bosses, Mr Thorburn admitted the financial services Royal Commission had exposed issues at NAB that he found "confronting and upsetting".
ABC's Peter Ryan says Mr Thorburn says he is personally accountable but says the NAB board will determine if he takes a financial "haircut" for the bank's misconduct.
Here's my coverage from The World Today
Read my piece on ABC News Online
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