Good news from a credit perspective, we have seen the number of COVID affected loans in the GCI portfolio decline substantially. Since the peak, approximately 44% of the COVID impacted loans have cured, meaning borrowers have re-commenced their loan repayments. This dramatic improvement is at least partially explained by the fact that many borrowers originally deferred payments “just in case” as noted by the RBA in their October 2020 Financial Stability Review.
GCI Investment Update Sep 2020The opinions and other information contained herein, whether express or implied are made in good faith in relation to the facts known at the time of preparation and are subject to change without notice. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All monetary figures are in USD unless otherwise specified.
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