The big banks facing a full-year profit hit

Original article by James Frost
The Australian Financial Review – Page: 17 : 29-Oct-18

The consensus of analysts is that the ANZ Bank will post a cash profit of $6.2bn for the year to 30 September, down from $6.9bn previously. National Australia Bank’s full-year cash profit is tipped to fall from $6.64bn to $5.47bn, but Westpac’s cash profit is forecast to rise from $8.06bn previously to $8.13bn. Factors such as customer remediation costs and falling net interest margins are expected to weigh on the earnings of the three big banks. The Commonwealth Bank’s cash profit for the year to 30 June fell by 4.7 per cent to $9.4bn.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE

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