A $10 billion banking bonanza

Half-year results from three of our top four banks offer an exceptional window into the sector … and the dividends keep increasing.

With the release yesterday morning (Thursday May 8) of the National Australia Bank results for the six months to March 31, we have now had a the chance to get a very clear reading on how three of our big four banks are travelling. ANZ and Westpac have also reported for the same period in recent days (our biggest bank, Commonwealth Bank, runs on a different reporting cycle). With listed banks represents roughly 30% of the ASX 200 and many Eureka Report subscribers depending on bank stocks for income, the ongoing progress of these stocks is crucial. In general the results were broadly on target, with all three banks meeting the market’s expectations. But there are significant developments at each bank well worth knowing. Below we reproduce an edited version of the results assessment for ANZ, NAB and Westpac from the specialist daily banking newsletter Banking Day. (Managing Editor James Kirby)

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