Primary sector loans being offloaded by banks

Fri, 25 Sep 2020

The primary sector may have lifted some of the country's recent poor economic performance, but its exposure to high debt levels could be coming home to roost as banks look to rebalance their portfolios.The economic cost of the global pandemic is reflected in the latest set of the top four banks’ quarterly reporting metrics, including an almost doubling of bad debt provisions to $2.5 billion.And with business insolvencies likely to dramatically trend upwards once current government business and wage support measures fall away, the bank...

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