Australia’s major banks have delivered a strong set of results for the 2023 full year - $31.99 billion in combined statutory earnings across Commonwealth, Westpac, ANZ and NAB. That’s up 8.2% on the previous year.
But there might be challenging times ahead, as economic headwinds continue to build, and loan momentum slows. Doug Nixon, Oceania Banking and Capital Markets Leader at EY, talks to Sean Aylmer about the health of the Australian banking sector.
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