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What’s in store for the Big Four?3 February 2009COMMENTSNo other country in the world which has a comparable population supports 4/5 banks making these kinds of profits. Read all comments »CBA profits are shaping up to be more than 20% above analysts’ expectations. Is this a sign of sunnier times ahead for the Big Four? A revenue surge and a squeeze on costs is set to drive a large-than-expected $2bn interim cash profit for CBA. But the bank is still dogged by speculation about downgrades stemming from bad debts, a poor performing asset management arm and its takeover of Bankwest. And chief executive Ralph Norris is warning that operating conditions will “become increasingly challenging”, underscoring a downbeat outlook for the banking sector, given slowing credit growth and mounting lending losses. How do you view CBA’s results? Are our big banks turning the corner? Or should we still be questioning their strength?
COMMENTSBankman, Investment Banking / M & A, Tue 03 Feb 09CBA has $1.6 billion in bad debts - that's nothing to shout about Add your comment »Henry, Information Services, Tue 03 Feb 09The Big Four are gaining market share from smaller banks and from some of the struggling overseas firms. Comparatively they're doing ok. Add your comment »Ugggg, Insurance, Tue 03 Feb 09These profits call into question whether how much support the banks really need from the tax payers....and why is CBA still cutting jobs? Add your comment »CBD slug, Credit, Thu 05 Feb 09Lets face it for a country of 21m people the big 4 banks make an obscene out of the Australian public. They make very little profit overseas the profit is more than 95% made in Australia, foreign banks are doing very little in terms of new lending here and the Aussie banks charge through the nose for everything, personal banking is pretty much free in the UK while here the banks have run out of words to describe the money they scalp off the Australian public. No other country in the world which has a comparable population supports 4/5 banks making these kinds of profits. Of course Ralphie Norris fresh from another weekend doing counter service at the Bankstown branch (NOT) is keen to talk it down to tell us all how hard it is, and get a truck load of government support, while competitors drop away as the days go by such as Dexia shutting up shop last week. My heart bleeds for you Ralphie Add your comment » |
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