Posted September 12, 2018 10:27:23 The banking industry is in a boom period, with banks lending more than they did in 2017 and the banking sector projected to see its biggest one-day growth since 2007.
The boom has been fuelled by the global financial crisis and the government’s response, which has allowed banks to expand and build their business networks around the world.
The industry is also seeing new entrants.
Many banks are looking to offer new products and services, such as automated banking and a new type of banking called digital payments.
The community bank concept has its origins in the banking industry, and has gained momentum since the financial crisis.
Read moreCommunity banks have traditionally been managed by private banks, but the federal government has introduced a national banking code, which allows for greater flexibility for community banks.
In its 2017 national financial performance report, the Commonwealth Bank said there were 5,000 community bank branches across Australia.
In 2018, the banking regulator, ASIC, found community banking was the fastest growing industry sector.
It is estimated there are over 1.8 million Australians who are part of a community banking network.
“The idea behind community banks is that it’s not just about lending to small business, it’s about lending broadly to the whole community,” the ASIC report states.
The report said community banks offer a number of services to the community, including financial advice, money transfer, loan applications, business advice and other community service.
Community banks can also provide loan guarantees to businesses, with an emphasis on local businesses and small businesses.
Community banking has been a long-standing option for many people, and the new banking code means it can now also be used for people who don’t have access to bank accounts.
“If you don’t want to be using a traditional bank, you can open up a bank account and get credit for it.
It’s really a way to expand your access to financial services,” Ms Kavitha Kavichapad, the CEO of the Small Business Bankers Association of Australia, said.
Community bank branches are not required to have a deposit account, but they can offer savings accounts, savings and checking accounts, as well as overdrafts and direct deposit services.
The National Community Bank Association is calling for the community bank industry to be included in the Banking Act.
The ACCC said it has been consulting with the community banking industry for a number years, and it is the view of the regulator that there is a compelling need for community banking to be part of the banking act.
The regulator also said community banking has the potential to provide services that meet the needs of the community.
“Community banks are not only a great way to make loans, they are also a great model for helping small businesses,” the ACCC’s chief financial officer, David Wilson, said in a statement.
“There are more than 4 million Australians living in regional and remote communities, with a combined population of around 7.5 million, and we believe it is important that the banking community be included, particularly given the impact of the financial services sector in our community.”
The ACCCC has previously indicated that it is considering a recommendation to add community banks to the Banking Acts, which would require the federal and state governments to make community banking available to the public.
“We’ve made a lot of progress on that,” Mr Wilson said.
Topics:business-economics-and-finance,community-and,community,business-group,financial-services,consumer-fraud-and_consumer-protection,bankers,community-,banking,banks-and‑credit-card,australiaFirst posted September 12:32:54More stories from Victoria