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Australia's NAB to expand threshold for small business protections

Reuters logo Reuters 14/03/2019
a red umbrella in front of a store: The National Australia Bank Logo is seen on a branch in central Sydney © Reuters/Daniel Munoz The National Australia Bank Logo is seen on a branch in central Sydney

National Australia Bank on Friday said it has decided to expand the threshold for small business protections, as the lender takes action with regards to recommendations of the Royal Commission inquiry.

NAB will extend its definition of small businesses to those with aggregate borrowings of less than A$5 million ($3.53 million), up from the previous agreed level of less than A$3 million, the lender said in a statement.

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