Data released by APRA on Friday showed that $66 billion worth of loans across Australia’s authorised deposit-taking institutions exited deferral arrangements in September.
This represented a 169 per cent increase on the $24 billion worth of loans that ceased deferral arrangements in August, and was the third straight month that the number of loans exiting deferral has outpaced the number of loans being approved for deferral.
The loans remaining on deferral made up 6.7 per cent of total loans across all ADIs, with household loans making up the majority of deferrals, APRA said. A total of $179 billion worth of loans remained on deferral.
Of housing loans remaining on deferral, the largest percentage came from Victoria, with the Northern Territory and Western Australia still having large proportions of deferred loans. Among small businesses, the NT, Victoria and Queensland had the highest proportions of loans on deferral.
Looking at individual institutions, Bank of Queensland had the highest proportion of loans on deferral, followed by AMP and NAB. Macquarie, Bendigo Bank and Commonwealth Bank had the highest numbers of loans exiting deferral over September.
