Anton's view on the banks

Anton Tagliaferro, Investment Director at Investors Mutual, presented a balanced view on the banks in a recent video. While the yield on the banks is attractive, he sees few opportunities to grow earnings. Credit growth, especially business lending, is quite subdued in the current environment, and the banks face some challenges in maintaining their net interest margins. "We don't expect them to take off from here, sideways is probably the best description for what we expect from them." He sees a question mark hanging over the bad debt provisions, and concerns over the Australian property market. All things considered, he expects earnings to be fairly flat over the next year. Watch the video below for his summary of the market. Discussion on banks starts at 1:52:


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