
Australia's major banks (the majors) delivered a solid financial result for the 2013-14 half year, driven by even lower bad debt charges and improved revenues from new home lending.
The majors' cash profit after tax of $14.7 billion for the 2013-2014 half year was up 6 percent from the 2013 second half year result ($13.9 billion), reflecting continued performance improvements.
However, the banks are facing mounting pressure from tightening margins, higher capital requirements and an inevitable rise in impairments from the current cyclical lows.