News: Festive shopping season boom hits banks

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    As the main season for spending enters its last official week Australia’s biggest banks are set to feel the ripples from festive season shopping. 
     
    Commonwealth Bank of Australia (ASX:CBA) forecast Aussies were likely to spend an extra $1,079 in the five weeks from the start of December.  
     
    National Australia Bank Limited (ASX:NAB) has already reported it processed a record 5.7 million ATM, EFTPOS, debit and credit card transactions this Boxing Day. 
     
    NAB says customers were out shopping in record numbers and the bank also saw records break for internet and mobile internet banking. 
     
    National Australia Bank reported a net profit of $5.29 billion in the year to the end of September.  
 
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