In accordance with RBA knowledge on bank profitability, the Big Four financial institutions averaged aggregate half-calendar year income around $15 billion over the last two a long time. By comparison, more compact Australian banks have aggregated 6-regular profits of around $2.twenty five billion around a similar period.
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The calendar year-long inquiry found that Australia’s significant banking companies and monetary institutions experienced continuously broken the regulation and place profits prior to men and women. It produced 24 referrals for misconduct involving potential civil and criminal penalties for CBA, NAB and ANZ.
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