NAB looks to tap SME growth
(13 March 2006 – Australia) National Australia Bank is looking to build on its strong business lending performance by lending another A$12 billion to Australia’s SME market.
The bank said SMEs were seeking extra finance predominantly for equipment, property and working capital.
"We continue to see strong demand for credit from business owners and business managers," NAB Business and Private Banking executive general manager George Frazis said.
NAB said strong profits and high rates of capacity utilisation were sustaining levels of business investment and that business lending in 2005 showed the strongest growth in more than a decade.
Frazis said NAB had improved its response to SMEs by streamlining and speeding up credit processes with decisions made locally by bankers.
NAB has also increased the limit for its on the spot business loans from A$750,000 to A$1 million.
"We are reducing complexity around our own processes, making it easier for our people to help our clients. As a result, our people are providing a premium banking service and products that adds value to businesses," Frazis said.
"All this means we can better help business owners and managers. Reducing the time business leaders spend on their finance, for example, helps them get on with running their business," he said.
"We continue to see strong demand for credit from business owners and business managers," NAB Business and Private Banking executive general manager George Frazis said.
NAB said strong profits and high rates of capacity utilisation were sustaining levels of business investment and that business lending in 2005 showed the strongest growth in more than a decade.
Frazis said NAB had improved its response to SMEs by streamlining and speeding up credit processes with decisions made locally by bankers.
NAB has also increased the limit for its on the spot business loans from A$750,000 to A$1 million.
"We are reducing complexity around our own processes, making it easier for our people to help our clients. As a result, our people are providing a premium banking service and products that adds value to businesses," Frazis said.
"All this means we can better help business owners and managers. Reducing the time business leaders spend on their finance, for example, helps them get on with running their business," he said.
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