NAB is now lending almost $2 billion a month to businesses, double the target pledged by the bank last year.
“NAB, as Australia’s largest business bank, is well placed to hold and build our position as the dominant business lender in Australia. We have shifted a lot of sand, and we are seeing the benefits, said Angela Mentis, Group Executive, Business Banking, NAB.
“We view our relationship and engagement with our business customers as critical – and believe it is unmatched by other financial institutions.”
NAB is planning for ongoing expansion of its market share; hiring 200 new bankers to drive and support the growth of NAB’s business book.
“We understand the significant value that supporting business – from micro to big – represents, not only to the future of NAB, but to Australia’s economy and prosperity.”
The strong business conditions and confidence levels identified in NAB’s June Monthly Business Survey really align with what NAB is hearing from customers, this is being reflected in demand for loans.
“We have good momentum and we can all sense the increased confidence right across the business.”