Aussie banks? Profitable? Get real

As bank reporting season gets underway, you’ll read everywhere that shareholders of Australia’s big four banks are practically drowning in profits. ANZ, National Australia Bank, Commonwealth Bank and Westpac are expected to report more than $30bn in collective net profit.With a colossal market valuation of $406bn, the big four account for 30% of the S&P/ASX 200 index. No wonder they form the bedrock of most Australian share portfolios. But what if the banks don’t have quite the power you believe?One of the biggest fears during the GFC was the ability of the big banks to secure long-term wholesale funding overseas....

As bank reporting season gets underway, you’ll read everywhere that shareholders of Australia’s big four banks are practically drowning in profits. ANZ, National Australia Bank, Commonwealth Bank and Westpac are expected to report more than $30bn in collective net profit.

With a colossal market valuation of $406bn, the big four account for 30% of the S&P/ASX 200 index. No wonder they form the bedrock of most Australian share portfolios. But what if the banks don’t have quite the power you believe?

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