August 15, 2019 / 10:19 PM / a month ago

ANZ reports 5% rise in third-quarter impaired assets

Aug 16 (Reuters) - Australia and New Zealand Banking Group said on Friday impaired assets rose 5% in the third quarter, as the bank relaxed lending requirements to boost market share amid a sluggish economy.

Gross impaired assets for Australia’s No. 4 bank by market value rose to A$1.97 billion ($1.33 billion) in the quarter ended June 30, from A$1.88 billion a year earlier.

$1 = 1.4760 Australian dollars Reporting by Aditya Soni in Bengaluru; Editing by Maju Samuel

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