NAB upbeat on loans prospects
Growth in National Australia Bank home loans is continuing at around 20 per cent while business lending is at about 9 per cent, according to the bank's Financial Services Australia division. FSA has 18 per cent of the home loans market and a quarter of the SME loans market. In total it has about 3.5 million customers. Executive GM Ian MacDonald said NAB is taking steps to address a minor falling-away in business at the low end of the SME market. MacDonald said FSA was unaffected by the fall-out from NAB's currency options trading scandal. Analysts say FSA should be quarantined from any potential corporate restructuring due to its strong performance.