Briefs: Lysaght lifts lending, Westpac may sell auto leasing finance book, trade credit risk flat
An excess of liquidity has been put to use by Lysaght Credit Union over the last year. The Wollongong ADI reported growth of 19 per cent in mortgage lending over the year to March 2017, lifting the home loan book to A$60 million from $51 million. The net profit for the credit union was $231,810. Westpac has an auto leasing finance book, in the order of A$5 billion, under review for sale, AFR.com reports in its Street Talk column. The portfolio under review largely relates to Westpac's 2014 acquisition of Lloyds' Capital Finance and BOS International businesses in Australia, according to the Fin. Morgan Stanley is assisting the bank with the strategic review. The Trade Credit Risk Index, produced by Adelaide-based insurance brokers NCI, "was relatively flat" over the June 2017 quarter, the firm said yesterday. It said this was a result of lower claim submissions in June. Claims on credit insurance had climbed over the March quarter.