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1.Market Observations, 8.Was Sticky

25 Mar 2016 (TheAge) – Bank shares hit on bad-debt fears

(25 March 2016, The Age, BusinessDay, p21, Clancy Yeates and Vanessa Desloires)

‘ANZ’s warning of a $100 million lift in bad debts has sparked a hefty drop in bank shares, with $20 billion wiped off the big four’s combined market value this week. In a sign of investor fears over the threat to bank profits from soured loans, shares in ANZ and Westpac fell sharply on Thursday after both lenders said they would increase provisions for bad debts. ANZ’s stock price was hardest hit, dropping 5.2 per cent to $24.02, after it said total bad-debt charges would be “at least” $100 million higher than the $800 million figure it flagged in February.

Read more at TheAge.com.au

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