Australia’s third largest lender, Westpac Banking Corp. Australia’s third-largest lender, Westpac Banking Corp, reported an increase in its arrears in the third quarter due to high interest rates and runaway inflation, while posting a decline in its capital levels.
The bank said its mortgages over 90 days past due rose 0.80% in the three months to June for the country, in an update that did not include a profit figure cash.
The bank also reported a cash profit of A$1.8 billion ($1.15 billion) for the third quarter ended June, due to higher profits and margin management.
($1 = 1.5630 Australian dollars)
2023-08-20 22:05:45
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