National Australia Bank Limited
(ASX:NAB) has welcomed funding in this week’s Federal Budget to help support the “No Interest Loans Scheme”.
The bank says there has been $33.3 million allocated for its community partner, Good Shepherd Microfinance, to continue to provide no interest loans to people on low incomes.
NAB advises it has committed $130 million in capital to support lending to people on low incomes.
The bank and Good Shepherd Microfinance are aiming to improving financial inclusion for one million people on low incomes by 2018.
National Australia Bank reported a net profit of $3.46 billion in the first half of the 2015 financial year.
