National
State of disaster: many businesses won’t survive Melbourne’s extreme lockdown – Sydney Morning Herald
Australia’s economic recovery will stall as Melbourne becomes a ghost town and tighter restrictions drive businesses to the ground.
Banks rely on increasing credit growth (lending more money) to fuel their profit. The longer the tail of the pandemic and its hit to the economy the more credit growth will slow.
But in a more immediate sense, bank shareholders will be concerned with a spike in bad loans – a byproduct of many companies – particularly small to medium sized companies – being unable to pay interest or worse – falling into administration.
The financial toll that Australias stage-three lockdowns had on businesses t…
