Australia’s ANZ records spike in late payments amid shrinking loan book

The Business Times | Aug 16, 2019 at 12:00 AM
  • Australia and New Zealand Banking Group (ANZ) said on Friday the value of its mortgages with late payments reached its highest level in at least seven years.
  • ANZ’s late payment levels are the second-largest reported by Australia’s four biggest lenders after National Australia Bank (NAB), highlighting a small but steady increase in impaired assets and bad debt charges following a sharp property downturn.
  • At Commonwealth Bank 90 day arrears in June stood at 0.68 per cent of gross loan advances.