The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney, Australia August 4, 2017.
Earlier this year, a review by the country's corporate regulator found banks were falling short of meeting targets for moving First Nations people into low-fee accounts.
NAB, the country's second biggest lender, said the new lending target highlights a surge of more than 140% based on its current lending of just A$413 million helping stimulate "sustainable business growth" among indigenous communities.
"During the last two years, we have put the building blocks in place to better support our growing First Nations business customer base, from both a commercial and cultural perspective," said Andrew Irvine, NAB Group Executive Business and Private Banking.
($1 = 1.5780 Australian dollars)Reporting by John Biju in Bengaluru; Editing by Krishna Chandra Eluri and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons:
David Gray, Andrew Irvine, John Biju, Krishna Chandra Eluri
Organizations:
National Australia Bank, REUTERS, Nations, NAB, Executive Business, Private Banking, Thomson
Locations:
Sydney, Australia, Bengaluru