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Making headlines today, the Herald Sun has said Australia’s big four will report cumulative profits of more than $11 billion this week.
According to the paper, ANZ Banking Group, Westpac Banking Corporation and National Australia Bank are expected to report first-half cash earnings of $2.818 billion, $3.111 billion, and $2.557 billion respectively; while CBA has already reported interim cash earnings of $3.335 billion – a 14 per cent jump on the previous corresponding period.
If these estimates prove accurate, the big four will report another year of record profits.
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It would also mean a 22.6 per cent jump in earnings for ANZ, a 16.5 per cent rise for NAB and a 5 per cent lift for Westpac.
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