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The outlook for Australian building societies has been labelled "negative" by Moody’s in its Australian Building Societies 2008 Outlook, released this month.
According to the ratings agency, high funding costs and the closure of RMBS markets are likely to constrain loan growth and profitability in the building society sector over the next 12-18 months.
A slowing economy and rising interest rates are also expected to add to the pressure. Problem loan losses are expected to be contained however because of the sector’s relatively conservative lending standards.
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Published: 29-04-08
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