Australian Banking Sector Update
Here is an update on the Australian banking sector provided by Australian market analyst UBS.
Australian Banking Sector- Credit growth - is this the tipping point? March credit growth: 0.8%: business 0.9%, personal -0.2%, housing 0.8%: March system credit grew at 0.8%; driven by: (1) good headline growth in business lending 0.9%, although higher due to Feb revision down from 0.5% to 0.3%, (2) sharp slowing in personal credit growth - .2%, the second negative month this yr, (3) housing credit growth stable at 0.8%, with non-banks share continuing to slow.
