Westpac Group’s Post

From Coffs Harbour to Bendigo, Westpac business lending data shows that parts of regional Australia are booming. Despite economic headwinds, business credit in regional areas is growing fast, with Westpac reporting a 12.4% increase over the past two years. 📈 “As we’re seeing more Australians move from capital cities to regional areas in search of more affordable housing and lifestyle factors, businesses are following suit,” says Shane Howell, Westpac's GM of Commercial Banking. Discover why regional centres like Launceston, Mackay and the Gold Coast are the new business hotspots - click to read more https://lnkd.in/gmMEXCNq #RegionalAustralia #SME #BusinessBanking

Recent research by Which? shows that Yorkshire now has the lowest ratio of bank branches to people in the UK, with just 4.4 branches per 100,000 residents. With only 248 branches left to serve 5.6 million people, many communities are struggling to access essential banking services 🙋♀️ The reduction in bank branches across the UK has left many communities without crucial services, making it particularly difficult for small business owners to deposit their earnings without closing early or travelling long distances. Learn more about the trending topic of access to cash among emerging businesses at The Guardian 👉 https://buff.ly/4eb3iKJ #AccessToCash #Banking

Latest Lending Trends for SMEs and Mid-Market companies 🪙👀 Banking partner at Shakespeare Martineau Jake Holmes shares the latest trends for SME and mid-market lending across the South, including insights from his banking and advisor contacts. Market sentiment With the UK general election behind us and interest rates falling, the appetite for lending to the region’s businesses remains strong across most sectors, despite lower transaction volume. This is, in no small part, down to the quality of the businesses. As John Turner, area director at Lloyds Banking Group explained: “We’ve seen over recent years that SMEs on the South Coast are very resilient – they’ve experienced Brexit, Covid, supply chain issues, the cost-of-living crisis, inflationary pressures and rising interest rates. They’ve managed to survive and thrive, despite these headwinds.” Continue reading... https://lnkd.in/e2U3CPRK #finance #lending #investing #banking #trend #insight #bristolnews #bristolhour #businessnews #businessintelligence

🏦 Industry Insight: The Continued Consolidation in U.S. Banking The recent seizure of Republic First by U.S. regulators, followed by its acquisition by Fulton Bank, signals ongoing consolidation in the banking industry—a trend mirroring Canada’s model where a handful of large institutions, known as the "Big Five," dominate the market. Drawing from my experiences with Canada's stable yet efficient banking sector, it's apparent that U.S. banks could glean significant lessons. For instance, Fulton’s acquisition, which nearly doubles its presence in Philadelphia, raises questions about the effects on competition and consumer services. As we witness U.S. banking inch closer to a Canadian-style consolidation, what could this mean for competition and consumer advantages? How can we strike a balance between banking stability and a competitive market landscape? Both aspects theoretically benefit consumers, but I’m keen to hear your thoughts: How might these trends reshape the banking industry and inform future business strategies? #banking #finance #regulation #businessstrategy #marketconsolidation #CanadianBanking

Wells Fargo Commercial Banking, in collaboration with Barlow Research, has published its first-ever Quarterly Commercial Banking Sentiment Study, providing a comprehensive snapshot of the economic outlook from commercial businesses across the U.S. This report, which surveyed senior executives, including CFOs, treasurers and finance directors from 380 companies with annual revenues between $10 million and $500 million, reveals a blend of cautious optimism, with companies noting both opportunities for growth and significant economic concerns. #equipmentfinance #equimentleasing #commercialfinance #commercialfinancebroker #brokers #lenders #leasingnews #cfla #efla #equipmentfinancing Read article https://lnkd.in/gyE-h3Jq

Business confidence in the South West rose five points during September to 42 per cent, according to the latest Business Barometer from Lloyds Bank Commercial Banking. https://lnkd.in/eYDHnDiU

In the ever-evolving landscape of finance and banking, recent developments highlight the sector's dynamic nature. UniCredit's CEO, Andrea Orcel, has reignited efforts for European bank consolidation with a €10.1 billion bid for Banco BPM. This move, if successful, would position UniCredit as Italy's largest bank by market capitalization. However, it faces political resistance, notably from Deputy Prime Minister Matteo Salvini, who has expressed concerns about the Bank of Italy's supervision amid such financial maneuvers. In the UK, major banks including NatWest, Barclays, and Halifax have reduced the period for fixed-rate mortgage customers to lock in new rates before their current deals expire, from six months to four. This adjustment reflects the lenders' response to market conditions and interest rate fluctuations. Meanwhile, the Australian Prudential Regulation Authority (APRA) has maintained a 3% mortgage serviceability buffer, despite rising loan stress and economic uncertainty. This decision underscores the regulator's cautious approach to financial stability amid a rapidly changing economic environment. These developments prompt a critical question: In an era of rapid financial innovation and regulatory shifts, how can institutions balance growth ambitions with the imperative of maintaining systemic stability? This post was generated by my custom-built personal agent, powered by LLMs and designed to operate my computer. If you're curious about how it works, feel free to ask!

The Message Is Clear: When It Comes to Savings High Street Banks Still Take Small Business Customers for Granted Richard Davies, CEO of Allica Bank, said:  “Our data has shown a significant and continued gap between the rates SMEs are offered by challenger banks and their larger, incumbent competitors. For more established SMEs especially, who will have larger amounts of cash on the balance sheet, this difference can have a massive impact. In today’s high-cost environment, this could be the difference between adding an extra member of staff, or investing in new equipment. “As the UK economy stabilises after years of uncertainty, there’s little excuse I can see for this continued poor treatment of SMEs and their savings from our biggest high street banking names. And with the BoE lowering base rates yesterday, we’ll be keeping a close eye to see if the disparity improves. “We want to see SMEs get the cash they are owed and for business banking to change for the better.” https://lnkd.in/epwUHcXj Jack McClelland Chloe Fenton (née Vaidya) Lee Mannion Joe Jones Georgie Burks #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Accelerating growth: Allica Bank's innovative approach in #SME Lending. #AllicaBank, a trailblazer in modern banking, continues to redefine #SMELending with innovative strategies and a steadfast commitment to customer-centric solutions. Our latest research delves deep into Allica's journey, highlighting pivotal milestones, strategic insights, and the bank's promising future: https://lnkd.in/d-CnGDKA In 2023, Allica Bank achieved significant advancements in #BusinessLoan propositions, including #Mortgage, #AssetFinance, and #GrowthFinance. The bank had a profitable year, reflecting robust financial health with £2.6B in savings deposits, showcasing strong customer trust. The #BusinessRewardAccount celebrated a milestone with 2,000 customers, and Allica was recognized as the fastest-growing UK FinTech by Deloitte's UK Technology Fast 50 award. In 2024, Allica Bank continues to excel, having completed over £2 billion in business #lending, underscoring its pivotal role in supporting enterprises of all sizes. The Annual Report 2023 revealed extraordinary growth, marked by a 141% increase in revenue, with gross revenue of £191 million and a profit before taxes reaching £16.1 million. Looking ahead, Allica Bank is poised to sustain its innovative edge in SME lending while expanding its product offerings. The #bank remains committed to a customer-first approach, aiming for sustainable growth that contributes to broader economic development. By embracing digital transformation, Allica plans to enhance its digital capabilities, ensuring a seamless banking experience. Allica Bank's journey in SME lending is a testament to its dedication to innovation, customer satisfaction, and financial excellence. Dive into our latest research to explore Allica Bank's transformative journey in detail: https://lnkd.in/d-CnGDKA Scale-Up and Corporate members can access the file here: https://lnkd.in/dwFxRVZe

Advisors in banks and credit unions are registering outsized growth in production this year. Are they finally increasing their penetration of their opportunity? Last year they grew their business 7% of average, but still slipped further behind their potential. https://lnkd.in/e9TGU8Mu #banks #creditunions #wealthmanagement #financialplanning #financialservices