Australian major banks have reported improved financials for the full financial year 2022, driven by continued strong post-COVID demand and margin recovery supported by rising interest rates.
The Australian economy has continued its strong post-COVID recovery, with the impacts of the RBA’s seven successive interest rate rises since May 2022 yet to drive any material slowdown in business and consumer activity. As a result, the Majors have benefited from continued credit growth in their FY22 results.
However, there is a more challenging outlook for the Majors with inflation putting pressure on their cost bases and new provisions being taken for potential economic stress ahead. The big question is – is this the calm before the storm?
Our report, Major Australia Banks: Full Year 2022 Results Analysis, provides the full commentary and insights.
Major Australian Banks
Read the full results analysis for Year End 2022 in our detailed report
An infographic snapshot of the major Australian bank's 2022 full year financial results.
increased by 1.6% to
🡹 $80.7 billion
Net interest income
increased by 2.9% to
🡹 $65.8 billion
Cash profit after tax
increased by 6.5% to
🡹 $28.5 billion
Average net interest margin
decreased by 9.5 bps to
🡻 178 bps
Average return on equity^
increased by 0.7% pts to
Average dividend payout ratio
remained steady at
Average cost to income ratio
decreased by 2.0% pts to
Share of risk and compliance of total investment spend decreased by 6.1% pts to
Average credit impairment provisions (as % of GLA) decreased by 11 bps to
Write-back of credit provisions of
Average CET1 capital ratio decreased by 102 bps to
Deposit to loan ratio
decreased 0.1% pts to
increased by 7.0% to
🡹 $3 trillion
Note: Comparisons are to the 2021 financial year, adjusted for restatements as applicable
^includes notable items
Read the media release
Australian banking: the calm before the storm?
Connect with us
Deep banking sector knowledge and a highly experienced team combine to assist clients navigate the complex challenges of today and into the future.
We help clients to navigate the complex challenges facing the banking industry.