Australian banksAustralian interest rates

RC’s next victim: Bank credit ratings?

David Llewellyn-Smith
Monday, 30 April 2018
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The week ahead for banks is big, via the AFR:

A highly anticipated interim bank earnings seasons this week will be kicked off by ANZ Banking Group, which is expected to unveil a slightly higher $3.5 billion cash profit on Tuesday. National Australia Bank will report its half-year numbers on Thursday, and profits are expected be down due to restructuring costs, followed by Macquarie Group on Friday and Westpac Banking Group on Monday, May 7.

Commonwealth Bank announced its half-year profit of $4.9 billion in early February, but will also be in the news this week when the Australian Prudential Regulation Authority is expected to release on Tuesday morning the report of an independent panel set up to examine CBA’s culture and governance after the AUSTRAC money-laundering revelations.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.