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Australia: Foreign banks cut property lending

Posted on 30 March 2009

From The Australian: Dexia SA, Bank of Tokyo Mitsubishi, BOS International, ING and Merrill Lynch have been named as some of 23 foreign banks that are withdrawing or have signalled plans to scale back their commercial property lending in Australia.

In a briefing document to federal political parties, the Property Council of Australia has warned there is “clear evidence that foreign financiers are leaving the Australian market at an accelerating pace”…..Full Article: Source


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