Australia is experiencing negative growth in loans to businesses, with a new report revealing Australia lags behind the G8 average by 2% and the BRIC nations’ average by a whopping 68%.
Retail and hospitality businesses relying on weekend trade look set for quicker access to their funds, with two of the major banks moving to same-day settlement, seven days a week.
Satisfaction ratings for all major banks in the micro business segment lifted for the first time in the history of DBM’s Business Financial Services Monitor, suggesting that business can expect to benefit from a buyer’s market.
Westpac has extended its lead on the other major banks due to improved ratings in the micro business market, according to the latest DBM Business Financial Services Monitor.
Non-bank lender Pepper Homeloans says it will target small business owners and the self-employed after purchasing a $5 billion mortgage portfolio from GE Capital.
The major banks are still struggling to rebuild small business satisfaction six months after raising their interest rates higher than the official cash rate, according to the latest DBM Business Financial Services Monitor.
Customers are increasingly differentiating between independent banks and the majors, with independent regionals emerging as a rich alternative for small businesses, according to a new report.
St George Bank is offering business borrowers up to $50,000 to switch from rival lenders in a bid to lift its presence in the corporate lending market.
A new report reveals Westpac is still the most popular major bank among business customers, but remains well behind smaller lenders including Bendigo and Adelaide Bank, and Macquarie Bank.
Westpac has continued its reign as the favoured business bank, but customer satisfaction across the banks continues to decline, according to the December data from DBM’s Business Financial Services Monitor.
A new report reveals business customers were less than impressed with the big banks in November, with ratings falling for the first time in six months.
Business customer satisfaction with Australia’s largest banks increased during July, according to new research.