Big four banks healthy and able
The big four banks are in strong financial positions and are among the elite of the world's banks in enjoying AA credit ratings from international credit rating agencies. National Australia Bank will announce half yearly profit results tomorrow (Tuesday) with Westpac and ANZ also due to report within the next two weeks. Results are expected to show rising bad debts but increased margins. Combined profit for the big four is expected to be about $7.6 billion, 3.5 per cent down on the 2008 first half results.
Source: The Australian Financial Review