• Conciseness
• Strategic focus and future orientation

Key observations:

National Australia Bank's (NAB) 2014 Annual Review concisely demonstrates the Group's focus on and understanding of the external environment through the lens of various challenges and opportunities affecting the bank. Arising from macro-economic and market trends, these risks and opportunities directly impact NAB's performance and drive its strategy. The disclosure introduces five issues and briefly discusses NAB's response and planned future activities for each.  Cross-references to related, more detailed information about NAB's strategy and risk management approach are also provided at the bottom of the page.