An International Bank of Settlements report set to be released today has for the third year in a row ranked Australia’s big four banks as the most profitable in the developed world.
Reported by Fairfax Media ahead of the release, the report says Australia’s big banks make $71 million per day, to come out on top of lenders in ten other developed countries including the United States and Britain.
All told, the BIS report estimates Commonwealth Bank, Westpac, ANZ and NAB will make more than $26 billion in profit this year.
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