A fragmented and reactionary response by banks to the Covid wildfire in greater Sydney is preparing the industry to reverse the reversal of provisioning that was the highlight of the most recent profit season.
By last night the four big banks had outlined boilerplate assistance measures.
CBAs CEO Matt Comyn said in a media release, We have a range of measures to help businesses to free up cash flow and provide some certainty, whether it’s through loan deferrals, fee refunds or new low cost funding through the SME Recovery Loan Scheme.
Westpac placed an emphasis on case management support for our small business customers experiencing financial difficulty as well as reduced or deferred repayments on asset and equipment finance and eli…
Read the full article at: https://www.bankingday.com/banks-back-away-from-provisions-hack
