National expects new lending for Australian businesses to exceed A$10billion - NAB Business and Private Banking announces - 1 March 2005
Tuesday, 1 March 2005
The Business and Private Banking arm of the National Australia Bank today announced it expects its new lending to the country’s small, medium and large businesses to exceed A$10 billion over the next 12 months.
“We are seeing increasing demand from business owners and managers for further funding to help them grow their businesses,” said George Frazis, Executive General Manager of Business and Private Banking.
“We are hearing from a lot of businesses that they want to grow and take advantage of various current economic opportunities,” Mr Frazis said today. “We are listening and responding.”
Recently the National has undertaken a number of other initiatives to improve its ability to meet business customer needs. These include;
- The launch in January of "On The Spot" business loans, where customers receive quicker response times to their requests for loans. In many instances this is ‘on the spot’, and
- Freeing up our credit decision processes by increasing credit decision limits for our front line relationship managers and significantly reducing policies requiring referral of lending decision to a 3rd party.
“We are reducing complexity around our lending processes and making finance easier for our customers,” said Mr Frazis. “By improving our lending processes we are able to do this without compromising the quality of our lending.” There is no softening in lending criteria or increase in risk profile.
“These moves signify how we are responding to the needs of business owners and managers and their business as well as their personal financial needs. Reducing the time business owners and managers are spending on their finance will help them get on with running their business,” he said.
About NAB Australia Business Banking
The National employs over 3,400 business banking specialists at over 170 business banking centres
For further information:
Guy McKanna
NAB Australia Corporate Affairs
02 9966 3532 work
0402 893 843 mobile
* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges
