Major Banks: Courage required, embracing disruption key to growth
The Australian major banks (the majors) this FY15 reported another record earnings result, but return to shareholders is down as the banks face an accelerating pace of change and compounding challenges.
According to a new report issued today by KPMG Australia, Major Australian Banks Full Year Results 2014-15, the majors delivered combined cash earnings of $30.0bn, up 5.4 percent from last year. Return on Equity, however, is down from 15.5 percent to 15.0 percent from the previous year. This downward trend is likely to continue as banks continue to increase their capital levels over the years ahead.
Read the full report: Major Australian Banks: full year results summary