Business
ANZ reveals its scars from the Victorian lockdown – The Australian Financial Review
Bank shareholders will be cheering the end of Victoria’s harsh lockdown restrictions even louder as they realise the burden the banks are feeling from business…
ANZ chief executive Shayne Elliott said that only an “infinitesimal” number of home loans had been moved to the hardship area, which deals with loans where borrowers have little prospect of ever being able to afford the repayments.
But that still left around 20 per cent of borrowers or around 11,000 home loans where the bank has agreed to a further four-month deferral on their loan repayments.
Victoria accounts for a disproportionately high level 46 per cent of the home loans that have been given…
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