May is interim reporting season for the major banks: half-year results for NAB, Westpac and ANZ, whose year ends in September, and a third-quarter “trading update” from CBA, which reports on the more usual June 30 full-year timing.
It is always a closely watched group of results, and this year was no different. And the banks came through with flying colours, with their best interim profit season yet. The combined half-year profits of the Big Four came in at a record $13.4 billion, up 7.2%.
Big Four’s profit machine rolls on
Analysts reckon that puts the Big Four on track for a combined full-year net profit haul of more than $25 billion.