Aussie Banks' Asset Quality Looks Stable -- Market Talk

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Aussie Banks' Asset Quality Looks Stable -- Market Talk

Dow Jones2023-09-04

0004 GMT - There is no sign of deterioration in Australian banks' asset quality, even 18 months into this interest-rate tightening cycle, say Citi analysts in a note. During this time, banks have been strengthening balance sheets, accumulating large loan-loss provisioning and wide capital buffers to hopefully avoid a potential crisis. "A key message during August results was the strength of the balance-sheet settings. Bank management have signaled that significant excess provisioning and capital are likely to be returned sooner than expected, implying an improving earnings per share outlook," says Citi. It reckons that consensus estimates haven't adjusted to this revised scenario, and has a neutral view on the sector, but says banks could outperform on a relative basis. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

September 03, 2023 20:04 ET (00:04 GMT)

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