Banks stare down spectre of bad debts, eye $4.5b return
The major banks are preparing to declare up to $4.5 billion in dividends and share buybacks over the next two weeks amid easing profit pressures reflected in what is expected to be a resilient earnings season, beginning with National Australia Bank on Thursday.
While persistent inflation has raised the prospect of more rate rises from the Reserve Bank in 2024, which could put pressure on bank bad debts, Commonwealth Bank’s head of retail, Angus Sullivan, said the outlook was still positive.
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