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CBA ramps up business lending to take on NAB

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Commonwealth Bank boss Matt Comyn wants to drive the post-COVID-19 economic recovery and become the country’s largest lender to business, in a bid to knock National Australia Bank off its long-held position as the top business bank.

After pausing $51 billion of mortgage repayments for 158,000 home loan customers during an extensive triage process last year as COVID-19 ravaged the economy, Commonwealth Bank has shifted gear and says backing companies to return the economy to solid growth has become the core duty for banks.

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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/cba-pushes-business-lending-to-take-on-nab-20210210-p5717a