http://www.money-au.com.au/finance-news/banking/westpac-warns-of-more-bad-debt-3496/ Australian Finance News from Money-Au.com.au Wed, 29 Jun 2011 02:21:28 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.money-au.com.au/finance-news/banking/westpac-warns-of-more-bad-debt-3496/comment-page-1/#comment-170 Australian Banking Majors Sound Warning Over Rising Bad Debt : money-au.com.au Fri, 19 Dec 2008 10:31:58 +0000 http://www.money-au.com.au/finance-news/?p=3496#comment-170 [...] Westpac at its AGM last week also warned over rising bad debt and pledged to scale back lending to highly leveraged borrowers after drawing sharp crisitism by shareholders for its exposure to Allco and ABC Learning Centres. Westpac has so far set aside A$ 1 billion to cover bad or doubtful debts, though it added that this was only a small proportion of its total loan portfolio. [...] [...] Westpac at its AGM last week also warned over rising bad debt and pledged to scale back lending to highly leveraged borrowers after drawing sharp crisitism by shareholders for its exposure to Allco and ABC Learning Centres. Westpac has so far set aside A$ 1 billion to cover bad or doubtful debts, though it added that this was only a small proportion of its total loan portfolio. [...]

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