More along the same lines now from Reuters: And, note this (bolding mine); So, depending on the picture you want to see its either bad, or not so bad. But, yeah, the mining investment boom is long since past and the economy is ticking along at below trend growth so there will be some increase in bad debts.
With results revealing that Commonwealth Bank's bad loans have suddenly jumped and Westpac, who has increased its bad debt charges to a six-year high in the first half, primarily due to the downturn in the mining sector, there is a real cause for concern for Australia's banks. Furthermore, with the economy continuing below trend growth, bad debts are expected to increase.