Behind this week’s bank results

The longer-term evidence shows the big banks are not overly expensive on a price-earnings basis.

Since this time last year our major banks are up between 16% and 22%. And adding in grossed-up dividend yields, some of those returns are closer to 30%.

At the start of 2014, and noting already strong price growth, I thought it was worthwhile taking a fresh look at how investors should approach Australia’s banking sector.

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