Our material issues

Identifying our material issues

We review and update our materiality assessment each year to ensure we’re focused on the key issues of concern to our stakeholders and the business. The assessment helps us manage our most important issues effectively, shaping the way we do business.

Overall, our assessment showed that culture, conduct and customer service remained the highest priority issues for us and our stakeholders in 2015.

Materiality Matrix

Culture and ethical conduct

How individuals, teams and governance mechanisms in the organisation behave and make decisions in their personal and professional capacity, to further build trust with the public.

Customer service

Providing the highest levels of assistance and advice to identify, meet and satisfy the needs of customers.

Customer security

Ensuring the security and privacy of personal financial data.

Company financial health

Strength of balance sheet, state of company's finances.

Regulatory developments

Planning for and implementing requirements of new regulations.

SME lending and services

Products and services provided to Small and Medium sized Enterprises and entrepreneurs, supporting growth.


What employees are rewarded, how pay decisions are made.

Transparency and disclosure

Reporting, communication and dialogue on operations and financial and non-financial metrics.

Business model & strategy

Alignment between organisation’s purpose and values and where and with whom it does business.

Mortgage lending

Mortgage products, support and advice to mortgage customers.

Governance and accountability

Oversight of key sustainability issues, Board diversity and accountability.

Financial literacy

Ensuring financial services are clearly explained, accessible, easy to use and meet customer's needs.

Low carbon transition

Supporting the transition to a low carbon economy through the provision of products and services to encourage sustainable energy development and energy efficiency.

Financial inclusion

Delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society.

Employee Engagement

The extent to which employees believe in what they do, commit to the organisation and are willing to contribute their best efforts to make the organisation successful.

Responsible/sustainable lending

Management of environmental, social and ethical risks in lending, and/or lending to customers where there is some social or environmental benefit.

Tax responsibilities

Compliance with tax law and transparency around tax payments