Maquarie says a 1 per cent increase in interest rates has a 12 per cent to 31 per cent impact on the disposable income of households.

Banks can expect another whacking

OPINION: Bank bashing is one of Australia’s favourite sports, and while it is generally played when banks are behaving badly, there is a time when the banks become political footballs for playing well, which is what will probably happen next week – for 16 billion reasons.

By Tuesday May 9, someone will add up the total profits earned by the four big commercial banks in the half year to March 31, with an early forecast being just short of $16 billion.

ANZ kicks off the latest financial reporting period tomorrow (Tuesday May 2) with UBS, an investment bank, tipping a six-month profit of $3.8 billion. National Australia Bank follows on May 4. Westpac is scheduled to report on May 8 and Commonwealth Bank on May 9.


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West Perth
And don't forget the bank employees who are being let go (500 at NAB) because of ‘increased headwinds and costs’. What a joke. Name another industry that lets so many staff go, so regularly?

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1 year TSR5 year TSR
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403rdANZ Banking Group9%14%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Source: Morningstar

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