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Foreign bank losses recur

Foreign bank branches continue to be a source of periodic losses.Branch banks, in aggregate, recorded a net loss of A$155 million in the June 2010 quarter. Branch banks recorded a profit of $410 million in the March 2010 quarter and a loss of $537 million in the December 2009 quarter.Losses were last recorded in the September and December quarters of 2008.The recurring losses are largely the result of write-offs related to commercial property loans.

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