Westpac pays price for late cycle mortgage frenzy

Tuesday 20 August 2019

Yesterday we saw Westpac’s credit quality on the slide:

Banking Day has more:

Westpac is now starting to count the cost of its aggressive pitch for mortgage volumes at the peak of the housing market in 2016.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.