Mortgage News

Westpac's mortgage book grew strongly in June Qtr

Tuesday 16th of August 2011

Westpac is the first of the banks to release its June quarter disclosure statement which showed net profit rose to $287 million from $213 million in the June quarter last year as charges against profit for bad loans fell to $189 million from $234 million.

Of those bad loans, most, $129 million related to business lending while $61 million related to mortgages.

Westpac's net intere...

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