Business
APRA opens door to $16b bank buyback bonanza – The Australian Financial Review
UBS banking analysts are pencilling in $16 billion of buybacks from the big four following the prudential regulator’s decision to remove the 50 per cent dividend…
Share prices underperformed on the day of the APRA decision, with CBA down 0.9 per cent at $83.18, NAB down 0.9 per cent at $23.34, ANZ down 1.3 per cent at $22.89, and Westpac down 0.9 per cent at $19.86. However, the sector has advanced strongly since the start of November.
CBA shares are up 21 per cent, NAB is up 25 per cent, ANZ is up 22 per cent, while Westpac has only managed to match the market with an 11 per cent gain.
S.T. Wong, chief investment officer at Prime Value Asset Management,…
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