PHOTO: Australian Banks
Most business bankers no longer have the skills to understand small and medium business, according to former NAB banker Joseph Healy.
The co-founder of challenger SME lender Judo Capital said bankers were addicted to property, and would prefer to lend to a customer buying a holiday home than an entrepreneur who is going to hire 10 people.
Judo Capital founder Joseph Healy says banks are addicted to property. Louie Douvis
“You’ve got a generation of bankers who have lost the ability to bank SMEs,” Mr Healy told The Australian Financial Review Banking & Wealth Summit on Wednesday.
“They know how to bank real estate because of LVR [loan-to-value ratio] … but in the middle the heartland of the economy, the knowledge is insufficient.”
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