Australia's major banks reported a cash profit after tax of $29.6 billion for the 2016 full year, down 2.5 percent compared to 2015, in the face of rising bad and doubtful debts changes, and higher liquidity and capital requirements. Persistently challenging market conditions, rising regulatory capital, increasing loan impairments and margin compression are all combining to put downward pressure on industry returns.
Read our media release – Slowing growth, rising capital drive banks’ ROE decline
KPMG's analysis of the major Australian banks' full year financial results.
KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.