ASB wants less dairy debt, pushes repayments

Thu, 13 Feb 2020

ASB Bank is actively reducing its exposure to dairy lending by "definitely encouraging" borrowers to take advantage of high commodity prices and low interest rates to pay down debt, chief executive Vittoria Shortt said.The latest results from its parent bank, Commonwealth Bank of Australia, show the group's New Zealand dairy book fell to A$7.3 billion at Dec. 31 from A$7.7 billion a year earlier."When we've got record commodity prices, you typically see farmers paying down debt," Shortt said."We've stood by our customers when they've gone throu...

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