Three of the four major Australian banks will collectively report net profits of more than $10 billion for the six months to March, according to analysts, even as the banks face continued pressures on their profit margins.
Cacho said he expected a continued fall in the banks’ net interest margins – a measure of profit comparing banks’ funding costs with what they charge for loans – but at a slower pace, dropping 3 basis points over the half. ‘The competitive behaviour is not as extreme now in mortgages, but there’s some competition on deposits.’NAB will kick off the round of bank results when it reports its profits for the six months to March this Thursday.
However, with bank returns under structural pressure, Mott said share prices in the banking sector could be in for a fall following a rally since October.
Source: News Formal (newsformal.com)
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