Australia's Auswide Bank climbs on strong Q1 profit, improving loan book

Auswide Bank

02/11/2020 23:50

** Auswide Bank Ltd  ABA.AX  rises as much as 4% to A$5.18,
hitting its highest since Sept. 3
    ** Lender's Q1 net profit after tax climbs 36.2% to A$5.6
mln ($3.95 mln), while net interest margin stood at 1.99%, up 10
basis points  urn:newsml:reuters.com:*:nFWN2HO1JW
    ** ABA says as of Sept. 30, COVID-19 loan assistance had
fallen to 3.3% of its loan book compared with almost 9% at the
end of FY2020
    ** Stock posts its biggest intraday percentage gain since
Oct. 13
    ** More than 87,000 shares change hands, compared with the
30-day average volume of about 20,000
    ** Stock down 14.9% this year, as of last close


($1 = 1.4176 Australian dollars)

 (Reporting by Rashmi Ashok in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918061822604;))