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NAB slugs borrowers

29/10/2009

NAB's net interest margin on Australian lending has risen consistently since March last year, and is now at 2.65 per cent, its highest level since September 2002, according to data collected by the Herald Sun.

Business borrowers have been particulalrly affected by the rising margins, as their loan interest rates have been increased during the financial year ending June 30, even as the Reserve Bank cut rates to record low levels.

"We passed on more than any other bank of the Reserve Bank rate cuts to home borrowers - 3.87 per cent out of total official cuts of 4.25 per cent,“ said NAB chief executive Cameron Clyne.

Source: Herald Sun

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