Business News

Westpac, CA, ANZ, AB likely to reap $12.6 billion

AUSTRALIA’S banks are set to report higher first-half profits next month, but analysts expect subdued lending growth to drive more interest rate rises this year. AUSTRALIA’S banks are set to report higher first-half profits next month, but analysts expect subdued lending growth to drive more interest rate rises this year.Combined profits of the four major banks are expected to be around $12.6 billion, according to a note by Macquarie Group analyst Michael Wiblin released today, beating the $12bn reaped in the first half of 2011.

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