Australia's large banks face rising credit risk as at-risk loans surged in 2023

At-risk loans for Australia 's four largest banks increased to 17.93% in the 12 months ended Sept. 30, 2023 .

This marked a significant increase from 12.03% in 2019 .

Australian banks have warned of the risks confronting consumers due to rising interest rates.

Mortgage lending, their traditional growth driver, stalled in 2023 , according to data.