By Alice Uribe
SYDNEY--Suncorp Group Ltd. said its banking unit saw the total lending portfolio contract by 336 million Australian dollars (US$244.6 million) over the first quarter of its fiscal year, driven by a 1% drop in retail lending.
However, the Australian company said Tuesday that this was partly offset by a 1% increase in business lending during the three months through September.
Suncorp said the bank had A$3 billion of loans under temporary loan deferral arrangements at the end of September, representing 5.2% of the total lending portfolio.
"The balance of loans within Victoria under deferral arrangements decreased during September albeit at a slower rate than other regions," Suncorp said.
Write to Alice Uribe at alice.uribe@wsj.com
(END) Dow Jones Newswires
11-09-20 1727ET