Banks make further record profits in first quarter
But their first rise in bad debt provisioning in nearly two years indicates headwinds.
KPMG banking partner John Kensington speaks with Maria Slade.
Despite a slowing housing market, the banks made a record 8% increase in profits in the first quarter of this year.
The nine major banks made a collective $1.74 billion in net profit in the three months to March, up from $1.61b in the previous quarter, KPMG’s latest survey of the sector shows.
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