Big four profits now equal size of a small country

by Mackenzie McCarty18 Feb 2013
The lender's market share increased in key sectors including traditional and affluent banking and household mortgages and deposits and lending average assets increased 7.6%.

“Initiatives to manage costs and margins helped to sustain a good performance in the Australia Division…In international and institutional banking, expenses were well controlled, however margins remain under pressure, albeit less so than in 2012, while favourable trading conditions and increased customer volumes saw a strong performance in global markets. The environment for Wealth remains subdued and we continue to manage costs while pacing investment in transforming the business.”

ANZ's figures represent the latest, following CBA's record $3.78 billion profit announcement last week, as well as NAB's $1.45 billion.


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COMMENTS

  • by NoTimeLikeTheFuture 18/02/2013 2:02:11 PM

    Yet Westpac announce plans to move processing to some other small country.

    WTHeck is wrong with having the work done by Australians? Profits are generated here, have some respect for us and our deals.