• Contact
  • Feedback
Banking Day
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Suncorp's non-core bank at advanced run-off stage

23 August 2012 4:37PM
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 under $3 billion by the end of the current financial year.The non-core bank made a loss of $263 million in the year to June, compared with a $175 million loss in the previous year. The weaker result was the result of additional exposures being impaired during the year. The impairment loss increased from $274 million to $364 million.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use