Business
Banks’ deferred loans hit $274b as more borrowers pause payments – Sydney Morning Herald
Australian banks allowed borrowers owing another $40 billion to pause their repayments in June as an emergency response to the coronavirus.
However, Victoria’s latest lockdown has worsened the outlook for banks, as it is expected to result in more job losses and businesses folding, pushing up bad debts.
In a sign of the pragmatic approach banks might take to customers in Victoria, Commonwealth Bank chief executive Matt Comyn said the lender was focusing closely on customers in the state, as it checked in on those with deferred loans.
“We are committed to doing whatever we can to support our customers in their time of need and this…
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