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Business loan volumes growing

New business lending continues to grow, despite the large number of business loan deferrals and the introduction of tighter lending standards by many lenders.

The latest Australian Banking Association COVID-19 banking statistics show that ABA member banks have made 108,240 new business loans worth A$125 billion during the COVID-19 period (the data series starts on April 28). Those numbers have grown at a steady pace over the past few weeks.

Total loan deferrals, as of June 19, stand at 779,458 – up from 772,616 a week earlier. Of the latest number 485,063 are mortgages and 216,372 are business loans.

The total value of deferred loans is $236.7 billion - $175.6 billion of mortgages and $59.8 billion of business loans.

 

 

 

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