BIG FOUR BANKS GRAB $19 BILLION IN FEES

Written on the 1 June 2012

BIG FOUR BANKS GRAB $19 BILLION IN FEES

AUSTRALIA’S big four banks collected a staggering $19.6 billion in fees and commissions last year, new figures show.

National Australia Bank (NAB), Westpac Banking Corporation, Commonwealth Bank of Australia (CBA) and the Australia and New Zealand Banking Group (ANZ) led the way in fee-revenue growth for the year to December 2011.

The Australian Prudential Regulatory Authority’s latest quarterly bank performance data shows bank fees and commissions totalled $19.6 billion, representing a 1.5 per cent increase on the previous 12 month period. NAB, CBA, ANZ and Westpac accounted for 78.1 per cent ($15.3 billion).

Combined net profit after tax (NPAT) was up 17.8 per cent to $28.2 billion. Big four banks achieved a 35.5 per cent profit margin, slightly higher than the 32.3 per cent average while other domestic banks only recorded 16.5 per cent.

However, other types of financial institutions did not reap as much fee income.

The quarterly credit union and building society performance figures show building societies received just $119.5 million and credit unions netted $349 million in the year to March 2012. The figures were down 31.1 and 15 per cent respectively compared to the previous period.

NPAT for building societies dropped 25.8 per cent to $134.3 million while credit union returns fell 14.3 per cent to $326.8 million.

Profit margins for building societies averaged just 20.6 per cent while credit unions only hit 17.2 per cent for the period.


Latest News

CROMWELL TRADES STEADILY IN FIRST HALF

CROMWELL Property Group has maintained a steady operating profit at $0.045 per security in the first half of FY17,...

WHY NEXTDC'S STOCK IS SOARING

AFTER posting its interim result, NEXTDC (ASX: NXT) gained more than 12 per cent on the stock market before noon.
...

PWR PROFIT CRASHES AS DOLLAR RISES AND COSTS MOUNT

A RISING Aussie dollar has offset PWR Holdings Limited's (ASX:PWH) overseas growth in the last half, forcing a...

SUPER RETAIL GROUP RESULTS SHINE ACROSS THE BOARD

A WELL-planned and executed half has paid off for Super Retail Group (ASX:SUL) as it posts a net profit result up ...

Related News

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter