Westpac’s Q3 posts rise in late mortgage payments
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
AUSTRALIA’S no. 3 lender Westpac Banking Corp reported an uptick in its debt arrears in third-quarter due to high interest rates and sticky inflation, while also posting a fall in its capital levels.
The bank said that its mortgages with more than 90 days late rose 0.80 per cent in the three-months ended June for the country, in a update which did not include any cash earnings number.
The bank further reported cash profit of A$1.8 billion (S$1.56 billion) for the third quarter ended June on account of higher earnings and margin management. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
