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.
Want to see more stories from trusted news sources?
Make The Adviser a preferred news source on Google.
Click here to add The Adviser as a preferred news source.
