On the spot business loans a winner for NAB

In an interview with Dow Jones, National Australia Bank’s executive manager business products and services, Bruce Munro, said NAB’s business banking market share has increased and there has been no deterioration in credit growth and we've held margins. “Nobody believes it, but it's true.” Talking about the small-business market rather than the top end of town, Munro told the news wire that NAB’s new delegation of rapid approval for loans of up to $500,000 had led to more than 9,000 applications for loans, with 75 per cent converted into drawn advances. Munro said this compared with a “normal” drawn percentage of between 30 per cent and 50 per cent.

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