Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Bankwest loan impairments down

Staff Reporter 1 minute read

Bankwest has showed an improvement in bad loans for the September quarter, with past-due loans for more than 90 days decreasing to $446 million at September 30 compared with $585 million at the same time last year.

According to a report in today’s The Australian Financial Review, the drop in arrears echoes trends reported by other banks that indicate the impairment cycle is turning for lenders.

Actual losses on the balance sheet were $24 million, down from $89 million three months earlier. Nevertheless, the size of impaired loans rose from $1.4 billion to $1.6 million for the quarter, driven by impairments coming from corporate lending and residential mortgages, the daily reported.

Bankwest loan impairments down
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
uptick graph Non-majors and non-banks continue to dominate: Broker Pulse

A greater proportion of brokers are sending their clients to non-...

construction equipment ta Demand for excavators up 191% YOY: CBA

The major bank’s data has revealed a jump in asset finance grow...

mortgage money house Hot Property: The biggest property headlines from the week 7-11 June

The weekly round-up of the biggest news stories from across Momen...