Business
ANZ Bank prepares for ‘second wave’ of distress in 2021 – Sydney Morning Herald
ANZ Bank’s Shayne Elliott says the lender is preparing for a much larger number of financially distressed customers next year as government support is removed.
While there were currently low numbers of companies being wound up, or individuals facing financial strife, he said this was because government support and banks’ temporary loan deferrals had bought time.
Mr Elliott said one concession was that interest rates were very low, which meant it was less costly for the bank and borrowers to defer their loans temporarily. “We can afford to buy time. We can afford to be a bit more sensitive than we might not otherwise be,” he said.
ANZ group executive …
-
General21 hours agoVictorian school teacher charged with soliciting child abuse material
-
General12 hours agoAustralia loses ODI series to South Africa with defeat in second game in Mackay
-
Noosa News18 hours agoFuel tanker driver killed in horror head-on crash near Blackbutt identified as beloved father-of-two
-
Noosa News16 hours agoPalestine protesters forced into last-minute reroute