Why ‘big four’ banks are hitting the headlines
The Australian share market is mostly dominated by banks and miners. These companies are in high demand among investors for their high dividend payout.
National Australia Bank Ltd
NAB $National Australia Bank Ltd(NAB.AU$reported a 6% rise in cash earnings compared to the corresponding period for the three months ended 30 June 2022. The bank also posted a 2% rise in revenue. NAB’s expenses rose 1% compared to the first-half average.
Shares of NAB have risen over 6% on a YTD basis. In the past 12 months, the share price has surged nearly 14%. The past month’s gain stands at nearly 8%.
Westpac Banking Corp
Westpac $WESTPAC FPO(WBCCD.AU$recently released its Q3 update. Shares of WBC have risen nearly 4% on a YTD basis. In the past 12 months, the share price has fallen nearly 12%. The past month’s gain stands at over 11%.
Commonwealth Bank of Australia
CBA $CommBank(CBA.AU$ reported a 3% revenue rise and an 11% boost in cash earnings for the 12 months ended 30 June 2022. The earnings were boosted by strong operations.
Shares of CBA have fallen over 2% on a YTD basis. In the past 12 months, the share price has risen over 1%. The past month's gain stands at over 6%.
Australia and New Zealand Banking Group Ltd
ANZ recently announced a move to help drive Australia’s decarbonization transition. According to the new program, the bank’s customers would receive a discount of 0.5% on loans up to AU$5 million to fund investment in activities designed to slash their emissions.
ANZ recently announced a capital raise of nearly AU$1.7 billion. The capital raise would result in the issue of nearly 89 million fresh shares. Shares of ANZ have fallen nearly 14% on a YTD basis. In the past 12 months, the share price has fallen over 15%.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
USleepUDie : I use CBA at the very begining, but now I prefer ANZ, quite convenient for international transfer.
USleepUDie : And I held CBA couple months ago, so lucky I sold at 108!
energetic Mink_4107 USleepUDie: I haven't used its products, but I recently bought the stock because it's more cost-effective.