Which Bank performed best on their Scorecard?
Three of the Big 4 banks recently reported and we’re checking in on their score card. Macquarie Group looks to have performed the best, but that might not provide the best opportunity from here. Hugh Dive from Atlas Finds Management Over the last two years the Banks' profit results have been difficult to analyse because The Royal Commission on Financial Services lead to extensive remediation provisions, increased compliance costs and a spike in legal fees. All while credit growth has slowed dramatically and interest rates have moved towards zero. This means analysing the current profit results of the banks and comparing to those of the last decade or so is not an a normal comparison of apples and apples. To jump ahead here are some key points Westpac (WBC) SPP - 13 minutes 30 seconds Bank's Profit Growth - 15 minutes RBA Rate Cut impacts - 23 minutes Highest Net Interest Margin - 24 minutes 10 seconds What to do with the banks summary - 24 minutes 30 seconds