Westpac Banking Corp said on Monday its stressed assets edged lower during the third quarter, helped by a fall in impaired assets.
In a limited third-quarter update, Australia’s second-biggest bank by market value said stressed assets slipped four basis points to 1.10 per cent although mortgage defaults nudged two basis points higher due to the impact of Cyclone Debbie.
mortgage defaults nudged two basis points higher due to the impact of Cyclone Debbie. Photo: Wayne Taylor
The fortunes of Australia’s “Big Four” banks are closely tied to the performance of the housing market, with the group holding a combined market share of more than 80 per cent of the lending market.
Reuters
Article source: http://watoday.com.au/small-business/managing/work-in-progress/intercultural-relationships-a-factor-in-entrepreneurial-success-research-shows-20170720-gxfmwo.html
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