0101 GMT - There seem to be no major red flags on Australian bank credit quality, with the increase in non-performing loans over the past six months has been similar across the four major lenders, say Morgan Stanley analysts in a note. At the same time they say that underlying loss rates are tracking at around 5-6 basis points, and collective provision coverage remains healthy, citing data which shows the major banks' collective provisions were steady at around A$19.4 billion at June, although coverage edged up by 1 basis point quarter-on-quarter to an average of around 1.38% of credit risk-weighted assets. (alice.uribe@wsj.com)
(END) Dow Jones Newswires
August 28, 2024 21:02 ET (01:02 GMT)
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