“My business banker can’t even read a balance sheet”

Monday, 24 September 2018

Via the AFR:

Small business says it is facing a credit crunch and is blaming the royal commission into financial services for causing nervous banks to slow lending to the self-employed.

The moderation in lending to small firms in recent months appears to be an unintended consequence of anecdotal evidence of questionable bank lending practices uncovered by Kenneth Hayne’s inquiry.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.