BOQ’s extraordinary loan deferrals

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Via Banking Day:

Exposure to the healthcare, property and construction sectors in its SME banking division and to Queensland tourist districts in its home lending business account for Bank of Queensland’s high rate of loan deferrals.

Last month, when APRA released loan deferral data at the lender level, BOQ had the highest level of deferred loans. The bank’s 2019/20 financial report, released yesterday, explains why.

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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.