Banks at Risk of Bad-Debt Blowout as Aussie Steelmaker CollapsesBy
Commonwealth Bank, ANZ facing losses on loans to steelmaker
Arrium collapse shows threat to banks from commodities rout
Commonwealth Bank of Australia and its competitors are staring at a potential blowout in bad-debt expenses as they try to claw back a combined A$1 billion ($753 million) of loans to steel and iron ore supplier Arrium Ltd., underscoring the looming threat to lenders from the commodities bust.
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