Chief Executive Officer Mike Smith's plan to double earnings by 2012 through acquisitions in Asia is being undermined at home as Australia's 17-year economic expansion loses steam and bad loans rise. The bank increased provisions after rising borrowing costs and plunging stock markets sparked the collapse of Australian margin lenders backed by the bank including Opes Prime Group Ltd.
Extract from Bloomberg ,
N.B. The reference to Opes as a MARGIN LENDER, no reference to stock lending
opes , page-70
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