Suncorp's non-core bank, an A$18 billion portfolio of commercial property and development loans that was quarantined from the rest of the bank in 2009, is in an advanced stage of run-off.
Yesterday, Suncorp reported that the outstanding balance of the portfolio was down to $4.5 billion at the end of June.
Exposures with balances in excess of $50 million are down to 34, from 121 at inception.
There are $1.8 billion of impaired loans in the portfolio. The bank said all accounts have work-out strategies in place.
Suncorp advised that the non-core portfolio will be...
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