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11:36
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Originally posted by peejay2:
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Banks are sitting on “unprecedented profitability” as the sector defies a housing downturn and enters the year making money from vast amounts of cash sitting in low yielding accounts. Broker forecasts for the year ahead suggest that banks will manage a 20 per cent lift in revenues as the rate rise cycle continues to kick directly into bank profits. Martin Currie says bank stocks have come full circle to enjoy a material tailwind. Matthew Davison, portfolio manager at Martin Currie Australia, says: “We are now seeing an almost unprecedented top line profit growth from the banks.
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