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.

Download PDF

Major Australian Banks

Read the full results analysis for Year End 2022 in our detailed report

Download PDF

Results snapshot

An infographic snapshot of the major Australian bank's 2022 full year financial results.


Operating income
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

🡹 10.6%

Average dividend payout ratio
remained steady

⬌ 71.0%


Average cost to income ratio
decreased by 2.0% pts to

🡻 50.2%

Share of risk and compliance of total investment spend decreased by 6.1% pts to

🡻 45.0%


Average credit impairment provisions (as % of GLA) decreased by 11 bps to

🡻 0.66%

Write-back of credit provisions of

$925 million


Average CET1 capital ratio decreased by 102 bps to

🡻 11.7%

Deposit to loan ratio
decreased 0.1% pts to

🡻 86.1%

Lending assets
increased by 7.0% to

🡹 $3 trillion

Note: Comparisons are to the 2021 financial year, adjusted for restatements as applicable
^includes notable items


Further insights

Connect with us

Sign up for banking industry insights and trends – direct to your inbox.