NAB’s bad loans ratio climbs as Covid moratoria expire

National Australia Bank’s (NAB) ratio of troubled loans climbed to its highest level in seven years in January, largely due to mortgage borrowers falling behind on repayments after exiting Covid-19 moratoria.

Impaired assets – made up of defaulted exposures and loans in arrears by 90 days or more – equalled 1.18% of gross loans and advances in January, up 17 basis points on end-December and well above the prior end-June peak of 1.06%. It was the highest ratio for NAB’s continuing operations

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