The Australian major banks have reported a combined cash profit after tax from continuing operations of $26.9 billion for the full year of 2019, down 7.8 percent on 2018. We analyse the four major Australian banks’ full year financial results for 2019.
The major banks faced economic and regulatory headwinds in 2019, including a soft local economy, continued investment in and management attention on risk and compliance activities, as well as intensifying levels of competition. They face a careful balancing act of fixing problems and re-building customer trust, while at the same time investing in digital and technology capabilities to drive growth.
An infographic snapshot of the major Australian bank's full year financial results.