Three of Australia's four major banks are losing market share in trade finance services for small- and medium-sized enterprises (SMEs), according to banking research firm East & Partners.
East senior consultant Paul Bartholomew said unsatisfactory service was undermining the banks' ability to carve out a share of a market forecast to be worth more than A$155m this year, or about 15 per cent of Australia's total trade finance market.
"Although uptake of trade finance services among SMEs is still relatively low compared to corporate and commercial companies, there is a huge opportunity here if providers can lift their service game," Mr Batholomew said.
He said, of the big four banks, only National Australia Bank Ltd, along with regionals St George Bank, BankWest and Bank of Queensland, had gained market share in SMEs in the past six months.
