March 14, 2019 / 10:44 PM / 5 months ago

Australia's NAB to expand threshold for small business protections

March 15 (Reuters) - National Australia Bank on Friday said it has decided to expand the threshold for small business protections, as the lender takes action with regards to recommendations of the Royal Commission inquiry.

NAB will extend its definition of small businesses to those with aggregate borrowings of less than A$5 million ($3.53 million), up from the previous agreed level of less than A$3 million, the lender said in a statement. ($1 = 1.4148 Australian dollars) (Reporting by Shanima A in Bengaluru; Editing by Sandra Maler)

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