Aussie banks? Profitable? Get real
Ironically, record profits have coincided with record low net interest margins for the big four banks. What does it mean for you? As bank reporting season gets underway, you’ll read everywhere that shareholders of Australia’s big four banks are practically drowning in profits. ANZ, National Australia Bank, Commonwealth Bank and Westpac are expected to report more than $30bn in collective net profit. With a colossal market valuation of $406bn, the big four account for 30% of the S&P/ASX 200 index. No wonder they form the bedrock of most Australian share portfolios. But what if the banks don’t have quite the power you believe? Read full article here: (VIEW LINK)
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