06/11/2009
All major banks have managed to increase their core income in the latest September half, in what was not exactly a booming economy. ANZ lifted Net Interest Income by 3 per cent; NAB by 5 per cent; Westpac by a thumping 10 per cent.
The net interest income measure is calculated from the difference in the interest paid to depositors and the interest collected from borrowers. Westpac was able to boost its net interest income by $400 million for the year amid rising costs including bad debt charges.
The increased margins do not preclude the possibility of banks raising rates by more than RBA’s guidance.
Source: Herald Sun
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