Stressed loans steadied at ANZ

Ian Rogers
ANZ reported only a mild increase in impaired and overdue loans in its quarterly "pillar 3" report for June 2009.

The bank said impaired loans increased $430 million to $4.3 billion over the three months to June. Loans 90 days or more past due increased $80 million to $1.7 billion.

Individual provisions fell slightly over the quarter, to $1.2 billion, while the charge for individual provisions also fell slightly in the quarter compared with recent quarters.

ANZ's credit exposures, measured by "exposure at default" fell six per cent to $524 billion, largely due to a decline in derivatives, contingent liabilities and off-balance sheet exposures.