Deferred loans in sharp decline a positive sign for recovery

Thursday February 11, 2021

In a further sign that the Australian economy is recovering from last year’s recession, new figures show that loans put on hold during the COVID-19 pandemic are shrinking fast.

Australian Banking Association CEO Anna Bligh says banks want their customers to succeed. (Photo: ABC News: Mary Lloyd)

At the peak of the pandemic, Australian banks deferred almost one million mortgages and business loans to assist the economy during the downturn.

Australian Banking Association figures show across the nation’s seven largest banks there are now only 118,000 or 15…

Click here to view the original article.