MARKETS SPECTATOR: Clyne spurs the banking bulls

The National Australia bank chief says as interest rates fall Australia's banking sector will remain attractive to investors, though some analysts are not so sure.

Ask Cameron Clyne if investors will continue to pile into bank stocks and the National Australia Bank chief executive will reply bluntly. “As interest rates go down people are going to look for yield," he told Business Spectator.

National Australia Bank increased its half-year dividend to 93 cents yesterday, fully franked. That represents a payout ratio of more than 75 per cent of the biggest Australian banks' profits, according to Clyne.

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