Powered by MOMENTUM MEDIA
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.

Banks in good shape: Fitch

Staff Reporter 1 minute read

Australian banks are strong and should be well positioned to handle the turmoil currently enveloping global markets, Fitch Ratings announced today in its semiannual review and outlook of the nation’s banks.

“Fundamentally, Australian banks appear to be in good shape, with solid profitability and excellent asset quality, while having only limited exposure to US sub-prime mortgages and related structured credit products,” said Tim Roche, associate director in Fitch’s Financial Institutions group.

The agency has noted however that a prolonged liquidity crunch may result in banks moderating their lending activity to reflect a reduced funding capacity.

According to Mr Roche, the banks may have to ‘ration’ credit should the current liquidity crisis continue.

Published: 05-02-08

Advertisement
Advertisement
Banks in good shape: Fitch
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
fingerprint VOI rule changes postponed due to COVID

ARNECC has advised that it has reassessed its proposed amendments...

approval stamp documents ta Bank automates pre-approval process

A non-major lender has announced changes to its pre-approval proc...

2017 08 20 Foreign buyers struggle to secure mortgage

Foreign buyers from all parts of Asia are still finding it diffic...

FROM THE WEB