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ABA defends major bank full-year profits

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Australian Broker | 05 Nov 2013, 05:00 AM Agree 0
The Australian Bankers' Association says solid bank profits this year are a positive sign for the nation's economy
  • Jerry Gibb | 06 Nov 2013, 03:27 PM Agree 0
    This mob defends Banks when they gouge the consumer by adding higher margins when the Reserve drops rates and then defends them when they make huge profits at the consumers expense. Anyone who believes this groups media spin needs to have a good hard look at themselves.
  • Joe Siragusa | 07 Nov 2013, 09:40 AM Agree 0
    Bank profit outrage happens every year after annual profit announcements. The facts are that Net Interest Income has fallen across all major banks so the argument of gouging is unjustified. The only thing the public dislike more than a profitable bank is a bank that makes losses. This round of bank profits has been driven primarily through reductions in B&DD's and cost cutting. The unfortunate side of cost cutting is the loss of jobs across all segments of banks.
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