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