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Regional banks outpacing majors for growth: KPMG

Regional banks outpacing majors for growth: KPMG

(Australia) - Australia's small regional banks are growing at a faster rate than the largest lenders, according to KPMG. KPMG's head of financial services, Peter Nash, says asset levels at regional banks surveyed were up 10.9 percent over the last year, compared with an 8.4 percent increase at the major banks.

Nash said smaller banks; such as Bendigo Bank, Suncorp-Metway, St George Bank, Adelaide Bank, BankWest and the Bank of Queensland are making better use of innovative distribution channels, including mortgage brokers.

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