Loan deferrals another $4bn in bank profits gone

Via Banking Day:

Extended loan repayment deferrals could cost the big banks anywhere from A$700 million to $1.1 billion in lost revenue, according to new analysis.

Macquarie Securities said the extension of loan repayment deferrals for another four months, along with the extension of APRA’s regulatory concessions, gives the banks extra time to deal with issues, including the opportunity to restructure loans. And more customers are likely to be able to return to employment.

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