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ISCOVER
Staff Reporter
Australia's major lenders have been ranked the most profitable in the developed world for the third year running.
According to an article in The Australian, CBA, Westpac, ANZ and NAB delivered bigger profits last year than various lenders across 10 major developed countries.
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In figures published by the Switzerland-based Bank for International Settlements, the pre-tax profits of the big four were equal to 1.18 per cent of their total assets.
Australian banks have lower costs than most of their peers and enjoy wider interest margins.
Moreover, RFi's latest Australian Mortgages Monthly Report found the combined mortgage market share of the big four banks currently sits at 84.8 per cent.
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