National Australia Bank (
NAB) has reached the fifth anniversary of
NAB Commercial Broker by celebrating a number of key milestones.
First established in 2012, the channel has grown to represent around a quarter of the bank’s new business lending flows and accounts for around 22% of the broader commercial market.
This upwards trajectory includes year-on-year settlement growth of over 40% with the number of broker loans written increasing by 27% annually.
NAB Commercial Broker formed its first aggregator partnership with
FAST in 2012. It now has agreements with 20 aggregators with around 1,300 brokers writing loans for the platform.
“NAB Commercial Broker was created in recognition of the growing trend towards the use of commercial brokers and these figures clearly demonstrate the success of brokers in catering to Australia’s business community,” said general manager of NAB Commercial Broker, Chris Thomas.
The group has also expanded its broker support team to 60 staff members who service NAB Business Bank, NAB Asset Finance as well as Small Business, Franchise, Agribusiness, Health, Private and Corporate.
Throughout the year, the bank has expanding its support for brokers within the commercial and small business lending space including through its ‘How’s Business?’ campaign which launched in July.
“Our small business team has received terrific feedback from many brokers who are now assisting a client with their business needs, where in the past the client only sought their help for a home loan,” Thomas told
Australian Broker.
Diversifying into commercial lending can offer brokers access to additional revenue streams while expanding their value proposition beyond mortgages, he said.
“Our aim is to make diversification a real possibility for brokers, by continually improving our digital lodgment process to ensure it is smooth and simple.”
With a growth mindset amongst small business owners, there is an increased demand for brokers who offer a diverse range of services, he added.
In the coming year, NAB will continue to invest in its business development managers to provide a greater on-the-ground presence for brokers in capital cities and regional communities.
“We are also investing in improved technology to enable a digital experience to complement the personal relationships we have with brokers via the many business banking centres we have across the country.”
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