National Australia Bank is set to reduce its workforce by approximately 170 roles as part of a broader strategy to expand certain operations offshore and enhance efficiency across its business.

The planned job reductions are linked to a restructuring effort aimed at streamlining processes and reallocating resources to areas that support long-term growth.

The bank is increasing its use of offshore teams, particularly in functions that can be delivered more cost-effectively from international locations.

Executives have indicated that the changes are part of an ongoing transformation designed to improve productivity, modernise operations, and remain competitive in an evolving financial services environment.

The move reflects a wider trend within the banking sector, where institutions are balancing cost pressures with the need to invest in technology and digital capabilities.

While the decision will affect employees in certain divisions, the bank has signalled that it will continue to invest in key areas of its domestic operations, including customer-facing services and strategic initiatives.

Support measures are expected to be provided to affected staff as part of the transition.

The restructuring comes amid increasing competition in the financial sector and a continued push to optimise operational models.

By shifting some functions offshore, the bank aims to achieve greater flexibility and scalability while maintaining service standards.

Industry observers note that such adjustments are becoming more common as financial institutions seek to align their cost structures with changing market conditions and technological advancements.

The development highlights the ongoing transformation of banking operations in response to global economic dynamics and evolving customer expectations.