The National Australia Bank Ltd expects its new lending to small- and medium-sized enterprises (SMEs) and large businesses to exceed A$10bn (US$7.91 billion) over the next 12 months.
The executive general manager of the NAB's business and private banking arm George Frazis said there had been an increasing demand from business owners and managers for further funding to help them grow.
"We are hearing from a lot of businesses that they want to grow and take advantage of various current economic opportunities," Mr Frazis said.
One Initiative undertaken by the bank in January to meet the SME demand was the "On The Spot" business loan, where customers receive quicker response times to their requests for loans.
"We are reducing complexity around our lending processes and making finance easier for our customers," Mr Frazis said.
He said by improving lending processes NAB is not compromising the quality of its loans.
