Banks focus on small business
01/12/2009
Small business will be the most hotly contested segment of the banking market in the year ahead, Commonwealth Bank executive general manager for local business banking Symon Brewis-Weston said yesterday.
Commonwealth Bank continues to invest in its small-business banking service, Local Business Banking, Westpac has adopted a similar model and National Australia Bank is keen to extend its traditional corporate and middle market business banking strength into small business.
The banks are focusing on small business because they see it as a source of strong demand.
Brewis-Weston said Commonwealth has been the price leader in the sector. It offers a term loan secured by residential property with a rate just 50 basis points over the standard variable home loan rate.
Source: The Sheet
Previous Article Next Article
