Westpac profit flatlines as 90+ day mortgage arrears surge

By in Australian banks

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By Leith van Onselen

Westpac has announced its Q1 trading update, which revealed a flat profit result:

Westpac also posted a slight uptick in mortgage delinquencies:

However, 90+ day delinquencies rose sharply, driven by WA:

Whereas the share of interest-only mortgages fell sharply to 32% from 46% in September 2017:

 

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