SME borrowers choosing the big banks
NAB has taken market leadership in the micro-business and SME segments with a 26 per cent share, followed by Westpac with 25 per cent and Commonwealth with 24 per cent according to analysis of Australian Prudential Regulation Authority data in the latest JP Morgan Fujitsu small business banking report, published yesterday. ANZ’s share has dropped four percentage points to 15 per cent this year.
Suncorp is the only second tier bank to pick up share in the June half. Some of the small lenders have suffered big setbacks. According to the report, Rural Bank’s share of micro and SME lending has fallen from 3.4 per cent in 2007 to 1.5 per cent in 2010. HSBC and Bendigo & Adelaide Bank have also suffered big falls, while Bank of Queensland, Citibank and ING Direct have been flat.
Source: Banking Day