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25

‘Tough’ Earnings Season Looming for Australia’s Banking Giants

By Tony Seruga

ANZ Bank may report lowest cash profit in four years: survey
Some analysts trimmed earnings forecasts earlier this month

It’s going to be a “tough” earnings season for Australia’s biggest banks, according to Goldman Sachs Group Inc.

Full-year results due from three of the lenders — starting with National Australia Bank Ltd. on Thursday — are poised to show that a record-breaking run of profits is coming to an end amid higher funding costs, lower interest margins and rising bad-debt charges…

‘Tough’ Earnings Season Looming for Australia’s Banking Giants

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