Don’t knock Australia’s pillar of profit

A BIS analysis of bank profitability shows Australia’s hefty bank assets are due to good management, rather than any post-crisis extravagance or profiteering.

An analysis of major bank profitability issued by the Bank of International Settlements earlier this week helps put the profitability of the major Australian banks into perspective.

The analysis, contained in the annual report of the BIS, has been seized on by critics of the big four banks as evidence of their excessive profitability.

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