Lender bender
The big banks are riding a strong earnings run and a market high. But with valuations stretched, how long can the buzz last?
Have Australia’s banks entered a sweet spot, or are things too good to be true?
Cost of living pressures and higher inflation might be squeezing customers and business clients, but the big four banks plus Macquarie have almost unanimously reported a roaring three to six months.
On Wednesday, NAB became the latest big bank to see its share price pop after reporting a record quarter, growing underlying profit by 15%. It managed to keep its powerhouse business banking division growing without compromising margin, asset quality or expenses.
It was a fitting finale to a run of seriously impressive banking results.
