Briefs: ANZ to lend A$1bn, more job growth, borrowing conditions improve

ANZ says it has "pledged to lend A$1 billion to new businesses", a figure said to be around 30 per cent more than in previous periods. The bank expects most loans to be secured, but will consider unsecured loans as well.

Jobs are growing in financial services, in risk management and compliance, as well as in retail banking, a regular survey by eFinancialCareers has found. There are fewer job openings in investment banking, however. eFC said job opportunities fell 34 per cent over the first quarter of 2013 compared with the same period in 2012. It said the decline in openings in Australia was the largest decline detected in global financial centres.

Borrowing conditions improved considerably over the March 2012 quarter, National Australia Bank said in its periodic business survey. NAB's economics team said that "lending institutions may be looking to provide businesses with easier access to credit in the currently soft demand environment." NAB said its net borrowing index (those firms that say it is easier to borrow minus those who say it is harder) eased to -1 point in March, up from -5 index points in February. NAB said overall demand for credit was extremely weak, with just 22 per cent of respondents requiring finance in March. This is the weakest level of credit demand recorded since November 2008.

Private investor demand for hybrid securities grew strongly in 2012. According to market research company Investment Trends, there was a 21 per cent increase in the number of those buying hybrid securities last year. Stronger demand for hybrids was part of a shift in focus from investments generating capital growth to income-producing assets. The finding was based on a survey of 9537 Australian investors.