Business lending market weak
Conditions in the business lending market remain weak, with the latest Reserve Bank figures showing growth in business loan balances of just 1.4 per cent over the 12 months to August.Business loan balances grew 0.2 per cent in August, after growing 0.4 per cent in July.Australian Prudential Regulation Authority data tells a similar story. On APRA's figures, business loan balances grew by 0.5 per cent in August, and by 2.8 per cent over the 12 months to August.Banks whose business loan balances grew above system over the past 12 months include ANZ, Commonwealth Bank, Westpac, Macquarie Bank, ME Bank, ING Direct, Bendigo and Adelaide Bank, and AMP Bank.APRA's figures show National Australia Bank's business loan book contracting over the past year, along with HSBC's, Investec's and Citibank's.