Banks Report Card 2015

Over the last week investors have been digesting multi-billion dollar profit results for the major trading banks, wading through voluminous investor discussion packs, whilst listening to bank CEOs and CFOs give details on their profit results. For 2015 ANZ, CEO Mike Smith’s final results pack took the cake for the largest presentation with over 150 charts on 268 pages!

In this piece we are going to look at the common themes emerging from the results, differentiate between the banks and hand out our reporting season awards to the companies that grease the wheels of Australian capitalism. Further what to do with the banks is probably the biggest issue facing Australian equity investors. The banks have all raised capital in 2015, are repricing their loan book upwards and look cheap post a correction, but bad debt charges can only rise from current historic lows.

Read more here.

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