Incoming NAB chairman Phil Chronican bracing for possible prosecutions from Royal Commission

Newly-appointed NAB chairman Phil Chronican assumes that the National Australia Bank is among institutions being investigated by regulators for possible civil or criminal prosecutions stemming from the banking Royal Commission. 

In his first broadcast interview since being appointed, Mr Chronican said he fully expects "other issues" to emerge this year. 

Phil Chronican tells ABC's Peter Ryan that alleged multi-million dollar fraud being investigated at the NAB is "exceptionally disappointing" but that the bank needed stronger internal measures to prevent it.