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National Australia Bank Limited (ASX:NAB) has revealed 20 per cent of adults in Australia are living pay to pay. The survey, commissioned by NAB and conducted by Newspoll, shows almost one in five adults rarely or never have any money left at the end of a pay cycle.
The survey release comes at the same time NAB and Good Shepherd Microfinance have launched a joint campaign called ‘Stop Small Problems Getting Big’.
Both companies have worked together to provide more than 100,000 no or low interest loans to people living on low incomes since 2003.
NAB and Good Shepherd Microfinance are targeting to improve financial inclusion for one million people on low incomes by 2018.
National Australia Bank says it has committed $130 million in capital to support lending to people on low incomes and says it also offers microenterprise loans to help people who cannot access mainstream finance to start their own businesses.
National Australia Bank reported a net profit of $2.86 billion in six months to the end of March 2014.
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