Loan deferrals decrease as banks steer customers towards paying ‘as soon as possible’
By Ann Wen · 7 January 2021 · News
By Ann Wen · 7 January 2021 · News
Banks are urging customers to pay up, but the numbers suggest a more complex story. Is the tide finally turning on loan deferrals, or is there more to the story?
Data released from the Australian Prudential Regulation Authority shows that loan deferrals have decreased, as exits from deferrals outweigh new entries for five straight months leading up to November 2020. A total of $60 billion of loans – around 2.3 per cent of total loans outstanding – were on temporary repayment deferrals as at 30 […]
Tags: Banking, Loan deferrals