Briefs: Agricultural Bank seeks licence and Bankwest reports on dud loans

  • The Agricultural Bank of China is seeking to upgrade its representative office in Australia to branch status, the Australian Financial Review reports. The bank is the only one of the five largest of China's dominant state-owned banks that does not have fully fledged branch in Australia.
  • The level of impaired loans on Bankwest's property development book in eastern Australia peaked at 7.2 per cent, the bank advised the Senate's economics committee in a follow up to a recent committee hearing. The bank did not make clear which year this was, but most likely in 2009 or 2010.