Loan growth in your bank has never been more important. And it’s probably never been harder.
There have probably never been more desperate competitors who are willing to undercut your best customers. Competitors who will take that business away at a profit margin that you can’t even understand—at a margin that you’re sure it is a ticket out of the business.
But if they become lunatics and take that stand, do you really want to follow by matching that kind of a pricing strategy for loan growth? I don’t think so. But on the other hand …
Can you really afford not to have loan growth?
You can’t. You can’t afford not to have loan growth, but you can’t afford to use their strategy. But maybe there’s a way that you can have your cake and eat it, too.
Read this excerpt about myths of loan growth from Breakthrough Banking Blueprint: How to Maintain Steady & Quality Loan Growth when the Whole World has Gone Mad. I suggest that by the proper management of your revenue systems and the right loan growth strategies, that you can, in fact, have loan growth at premium pricing.
Many don’t believe it’s true because they haven’t done it
But just because they haven’t done these loan growth strategies yet doesn’t mean it can’t be done. It just means they don’t yet know how to do them. It’s important to understand those distinctions.
At a masterclass I have coming up, I’m going to start to cover the beginning fundamentals of what’s important for banks to know now about loan growth by increasing loan sales—and trust me, it’s not what banks were doing a couple of years ago.
The highest performing banks in this country, the ones who are continuing to knock down solid loan growth during very challenging times, are doing something different, and you need to understand that because they just might be your competitors.
– Roxanne Emmerich
Please watch the video above and share it with your exec team and board.
Ready to declare war on being an average bank and move to the top 5%? Register for the Category of One Masterclass.