ANZ has now posted one of the biggest falls in earnings at a major bank in over a decade.
Westpac’s institutional lending business was hit hard, which left them $299 million short of net profit expectations.
The last thing the Australian economy needs right now is a housing-led slowdown. But I’m afraid that’s probably what it’s going to get.
Investors will just have to wait and see if mounting bad debt and increased risk tolerance has adversely affected Australian banks’ profitability.
China’s excess steel production should be a worry for all first world steel production plants. It makes it that much harder for them to compete. But it doesn’t look like improving anytime soon. Given the strategic nature of steel making, I smell a trade war coming on…
After trading as high as $14.50 in November last year, Bank of Queensland [ASX:BOQ] shares hit a low of $10.67 today — a near 7% fall from yesterday’s close.
A digital revolution is rapidly changing the banking industry. And customers are the ones who are winning. These benefits are also lowering the costs for banks too. But there needs to be a cultural change across bank as well. They must adopt the habits and culture of digital-native companies.
If you missed market movements yesterday, I’ll briefly summarise what happened. Aussie banks declined. Australia’s Big Four banks each lost around 2.5–3.5% of their value yesterday.
It's going to be difficult for the bank stocks to replicate the massive growth they've enjoyed over the last 20 years. If you're in the chase for dividends, you need to open your sights further.
Australia’s Big Four banks could now be looking at record profits, strong dividends, and improving asset quality all fade away. And all because of bad debts.