NAB backs Australian business with a $2 billion lending pledge

Share

Share

NAB today committed to lend $2 billion a month to Australian businesses, sending a powerful message to the business community by Australia’s biggest business bank.

NAB Group Executive, Business Banking, Angela Mentis, said the pledge doubled a $1 billion commitment made by NAB in November last year and reflected improved confidence levels and business conditions in the Australian economy.

“Now, more than ever, Australians are focused on the future. Businesses across the country are energised by the renewed focus on a prosperous and productive economy powered by innovation and agility,” Ms Mentis said.

“Our pledge supports businesses that are backing themselves to grow so that confidence translates into lasting activity that will drive the next phase of growth for Australia’s economy.”

Ms Mentis said Australian businesses, large and small, were looking to the wealth of opportunities that would come from the recent wave of free trade agreements with China, Japan and South Korea.

“From my time on the road meeting with our customers it is clear there is strong entrepreneurial drive and desire to innovate as businesses look to take their services and expertise to the rest of Australia and beyond.

“That’s why we’re sending a strong message to the business community that we continue to back businesses that back themselves. Our $2 billion per month lending pledge reinforces that,” Ms Mentis said.

A recent NAB research report into business innovation in Australia identified ‘highly innovative’ businesses are stronger performers both in terms of business conditions and levels of confidence.

“The improvement in confidence levels and sustained level of business conditions echo the faith we have in Australian business, and supporting them remains our biggest priority.

“Working together, we have a unique opportunity as a business community to help build a better Australia,” Ms Mentis said.

To view the NAB Innovation report, visit http://business.nab.com.au/tag/innovation/

Announcements

SEE ALL TOPICS

Related Articles

  • Full Year Results

NAB 2021 Full Year Results

NAB Group Chief Executive Officer Ross McEwan today released NAB’s 2021 Full Year Results and Annual Review.

  • 09.11.2021
  • Time to read 1 min read
  • Announcements

Port of Newcastle Hydrogen Hub

  • 08.11.2021
  • Time to read 1 min read
  • Climate

NAB receives HRH The Prince of Wales’ Terra Carta Seal in recognition of commitment to creating a sustainable future

NAB was awarded the inaugural 2021 Terra Carta Seal by His Royal Highness the Prince of Wales at the UN Climate Change Conference (COP26) in Glasgow.

  • 04.11.2021
  • Time to read 2 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.