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NAB’s discovery of
underserved markets:
Corinne Proske, Head of Community Finance & Development
August 2013
17.7 % of Australians are financially excluded
• 3.12 million Australian adults are either fully or severely excluded from...
Australian financial exclusion data
Product ownership exclusion 2007-2012
17.7% of
population are
fully or
severely
exclud...
The financial landscape
NILS
Step UP
MEL
Savings/insurance
MAINSTREAM
7000 loans
High
cost
Low cost
NAB Microenterprise
Lo...
Microfinance - what has been achieved?
First NILS
sponsorship
Partnership with Good
Shepherd Youth &
Family Service
Launch...
Volume Of Microfinance Loans
19508
23364
15752
4269
8633
0
5000
10000
15000
20000
25000
FY 08/09 FY 09/10 FY 10/11 FY 11/1...
How are we performing ?
8
The opportunity
.
Corinne Proske
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Corinne Proske

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Transcript of "Corinne Proske"

  1. 1. NAB’s discovery of underserved markets: Corinne Proske, Head of Community Finance & Development August 2013
  2. 2. 17.7 % of Australians are financially excluded • 3.12 million Australian adults are either fully or severely excluded from accessing mainstream financial products and services including a transaction account, credit card and general insurance.* • Financial exclusion often means people: – can’t afford basic personal and household items like a washing machine or a fridge – don’t have the ability to source money to pay for an emergency, unexpected bill, or income shock – are vulnerable to predatory lending (*Source: NAB/CSI Financial Exclusion Indicator, 2013)
  3. 3. Australian financial exclusion data Product ownership exclusion 2007-2012 17.7% of population are fully or severely excluded
  4. 4. The financial landscape NILS Step UP MEL Savings/insurance MAINSTREAM 7000 loans High cost Low cost NAB Microenterprise Loans Business Personal Fringe / Pay Day Lenders NAB Business Banking - Day to Day Banking - Finance & Loans - Investments - Insurance Mainstream Finance NAB Personal Banking - Everyday Transaction Accounts - Credit Cards - Personal Loans - Home Loans
  5. 5. Microfinance - what has been achieved? First NILS sponsorship Partnership with Good Shepherd Youth & Family Service Launched StepUP Loans Microenterprise Loans Announced additional $100m in microfinance capital Microfinance capital of $30m announced Launched AddsUP matched saving product 2003 2004 2009 2006 2007 2011 CSI/NAB financial exclusion indicator launched 2010 Federal Government supports NILS, StepUP and AddsUP programs with $18.5m for two years 2002 1998 Launched the NAB Concession Card Account and Fee Saver Accounts for community groups Community stakeholder forums to gain feedback on branch closures and transaction accounts $4m funding allocated to Good Shepherd from Vic Govt for Good Money 2008 Started NAB Small Loans Pilot Federal Government supports NILS, and StepUP programs with $26m for four years CDFI pilot launched, NAB supporting Fair Loans and Fair Finance with $1m each in capital 2012 Reached 60,000 Microfinance Loans Open three Good Money shop fronts. 2013 Federal Government supports NILS, StepUP and AddsUP programs with $4.5m for two years Federal Government supports NILS, StepUP and AddsUP programs with $18.5m for two years Expect to write a total of $100 million dollars in loans
  6. 6. Volume Of Microfinance Loans 19508 23364 15752 4269 8633 0 5000 10000 15000 20000 25000 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 *YTD Where are we today? An 82% increase on the year prior More than 100% increase on prior year A 48% increase on the year prior *FY 12/13 data From Oct12-June13 ends September 2013
  7. 7. How are we performing ?
  8. 8. 8 The opportunity .
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