15 AUG:
Westpac has joined its major bank peers in reporting improved June quarter loan quality and delinquency rates, as attention turns to how borrowers will fare in coming months given the aggressive interest rate hiking cycle.In a market update on Monday, Westpac said credit quality improved with stressed assets to total committed exposure falling to 1.06 per cent in the June quarter. That was 4 basis points lower than the prior three months.
Home loans with repayments 90-days past due and classified as delinquencies declined in Australia by 5 basis points to 0.83 per cent, and dipped 2 basis points in New Zealand to 0.28 per cent.
