Healthcare posts strongest growth outlook, construction recovers since December plunge

Business development managers at the non-major banks are outperforming their major and non-bank counterparts, according to a new broker survey.

The major bank’s turnaround times returned to single digits for the first time since March 2020 at nine days in April 2022, new data has revealed.

Large authorised deposit-taking institutions (ADIs) have continued to improve their net-promoter scores from the final quarter of 2021.

Satisfaction with business development managers at the lenders reached record high levels in March, new data reveals.

Large banks continued to improve their turnaround times in March, with Macquarie leading the pack with turnaround time down to two days.

The banks that brokers most commonly use have reduced their turnarounds to under seven business days for the first time this decade, according to new data.

Brokers are continuing to favour non-banks and non-major banks, according to the latest Broker Pulse survey, with the big four banks seeing record low share.

The gap between broker applications sent to majors and non-majors is closing in, and net promoter scores may show why.

Ninety-one per cent of brokers sent loans to non-major banks in November, as the major banks continue to fall in popularity in the channel.

The majority of ADI lenders took more days to arrive at initial credit decisions in November, the latest Broker Pulse Survey suggests.

While large ADIs showed improving turnarounds in October, ease of use emerged as a notable bottleneck throughout most lenders’ loan application processes.

Brokers are seeing turnarounds at the most commonly used banks continue to improve, despite third-party usage rates surging for these banks in October.