Macquarie research says that Aussie Banks are ready, set, grow! The base case remains that credit growth will improve in the coming year to around GDP type levels. In a more bullish credit growth scenario earnings could increase by 2-7% p.a. over the next 3 years leading to a sector TSR of 12-30%+. Given an over-levered consumer, the main upside swing factor remains business credit growth, where NAB and WBC appear best placed.