August 18, 2019 / 10:46 PM / 2 months ago

Westpac's third-quarter stressed assets rise

Aug 19 (Reuters) - Australia’s Westpac Banking Corp said on Monday its stressed assets rose in the third quarter, as regulators relaxed mortgage lending rules to boost volumes and offer a leg up to the economy.

Stressed assets increased by 10 basis points to 1.2%, Westpac said in a limited third-quarter update.

The Sydney-based lender’s common equity tier-1 capital ratio inched down to 10.5% at the end of June from 10.6% at March 31.

Reporting by Nikhil Kurian Nainan and Devika Syamnath in Bengaluru; Editing by Shounak Dasgupta and Peter Cooney

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