Through this period, the constraints on banks' lending were eased significantly, allowing credit constrained customers to access finance and banks to expand their provision of credit. But as noted, in Australia the household debt-to-income ratio has increased more than for many other countries. The increase in household debt over the past few decades has been largely due to a rise in mortgage debt.
We, at State Bank of Pakistan, believe that the growth of SMEs is vital for country’s economic growth and provision of quality banking services and products in this area remains paramount. I hope that, we can learn from Bank of China’s diverse experience in serving this particular segment.