NAB, Banks and Looming Mortgage Crisis, page-57

I would also add (in my humble opinion) that NAB only dropped down the list when it experimented with being an International bank and paid over the top for UK assets when the UK was caught up in the banking sector downturn and Greek crisis. That backfired somewhat and the losses over several years were a distinct drain. Yet, NAB still is competitive profit wise with ANZ and Westpac and offers the best dividend return.

I am not overly concerned that there will be a massive increase in the rate of mortgage defaults. Wages and salaries will start to pick-up (and they need to for the economy to grow) and the value of defaults will be relatively easy for the big four 4 to handle. This is not the US which has a different system and people can walk away from their homes - and their debts owing on the property.