The two best banks for income investors

The Income First portfolio launches today with five stocks, including two banks that look more compelling than their peers.

Summary: We are adding ANZ and NAB to the Income First model portfolio at 6 per cent weights. These stocks are more compelling than CBA and Westpac from both a yield and a value perspective.  Even though the market is discounting ANZ and NAB as the relative quality of earnings is not as high as their peers, these are risks worth taking for the additional income, especially considering all four banks are extremely solid.

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