The Australia and New Zealand Banking Group Ltd on Thursday said it has slashed its exposure to Asian borrowers in response to the regions economic crisis. ANZ Bank said it has cut its total exposure by 38 per cent in the last six months. Total exposures have fallen by about $4.4 billion to $7.1 billion as on March 31 but none of these loans were written off. Instead, loans matured and were not renewed. The bank said expected total losses on all bad loans would amount to A$500 million in the year ending September 30.
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