You are here

Loan losses to double at Australian banks from coronavirus: rating agencies

rk_Commonwealthbank_170320.jpg
Australian banks will take large losses from loans to businesses in the tourism and education sectors this year, while facing a broader hit in housing loans if the Covid-19 outbreak results in higher levels of unemployment, rating agencies said on Tuesday.

[SYDNEY] Australian banks will take large losses from loans to businesses in the tourism and education sectors this year, while facing a broader hit in housing loans if the Covid-19 outbreak results in higher levels of unemployment, rating agencies said on Tuesday.

Credit losses at the...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes