Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

'Repetition doesn't make true': ABA CEO on big four profits being world's highest

Notify me of new replies via email
Australian Broker | 09 Oct 2013, 07:00 AM Agree 0
Australian Bankers' Association CEO has published a defense of the major banks' profits on the group's website, claiming recent data from BIS is misleading
  • Regional Broker | 09 Oct 2013, 09:55 AM Agree 0
    Why Give these guys publicity only time I have seen an industry body making excuses for their members profitability !
  • Steve McClure | 09 Oct 2013, 11:41 AM Agree 0
    Everyone puts their spin on it to justify their claims & agenda. Canada's largest bank, RBC had assets $825B & NP $7.5B in 2012. CBA assets 753B & NP $7.7B in 2013 - so their ROA is higher. Given that Canada population is almost 60% higher, profit per capita is significantly lower, as are their margins. Even though RBC's profits are expected to grow 10% this year, their 2nd largest bank's profits recently fell. NAB in Australia continued to rise. The most profitable claim is based on data from BIS - hardly a lie.
  • Positive Broker | 10 Oct 2013, 07:37 AM Agree 0
    Does it really matter if they 1st, 2nd or 3rd. Either way they very profitable thanks to a lack of competition.
Post a reply