The MFAA’s CEO Phil Naylor believes regional banks can offer the strongest support for the broker channel.
Australian Broker Online contacted Mr Naylor in response to news yesterday that regional banks had seen a strong spike in usage from the broker channel in the June quarter.
“I don’t have access to any statistics that would substantiate this, but it would not be surprising as some of the regional banks have been the strongest supporters of the broker channel,” he said.
He said the benefits regional banks presented to brokers also came down to “more choice and therefore more competition.”
“I don’t see why it wouldn’t continue providing there is sufficient funding for regionals to attack the market,” he said.
Data from the Market Intelligence Strategy Centre (MISC) found regional banks enjoyed 37% of broker business nationally in Q2 2012, which represented a 12% increase from Q2 2011.
Queensland and WA brokers showed the strongest support of their regional banks.