August 23, 2018 / 11:09 PM / in 3 months

Australia’s Westpac Q3 stressed loans fall slightly

Aug 24 (Reuters) - Australia’s Westpac Banking Corp said on Friday its stressed assets fell slightly during the third quarter as the country’s second-biggest lender reported a fall in impairments in its smaller mining and New Zealand dairy portfolios.

In a limited third quarter update, Westpac said stressed assets edged lower by 1 basis points to 1.08 percent.

Westpac’s common equity Tier-1 capital ratio also inched down to 10.4 percent at the end of June from 10.5 percent as at March 31.

Reporting By Rushil Dutta in Bengaluru; editing by Richard Pullin

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