National Australia Bank's chief executive says the bank sees house prices declining as much as 20 per cent peak-to-trough, but says most of its customers will be able to manage repayments even if rates rise higher than expected.
"We know there will be some who face difficulties," CEO Ross McEwan said as the bank reported its full-year earnings results on Wednesday.
"We see the most-at risk customers as those who borrowed over the last few years when interest rates were very low, and serviceability was tested at less than six per cent."
