Business
ASX bank shares best placed to ride the $1bn+ provisioning profit boost this reporting season
Expectations are building ahead of the ASX bank reporting season and experts are predicting that the sector will get a $1 billion plus earnings injection on top of operating profit growth.
The extra profit boost comes courtesy of the great COVID-19 unwind. While ASX bank shares had to cut profits to build a cash buffer during the pandemic, they are expected to return a chunk of this back to their bottom lines now.
This places the ASX bank shares in a good position to report higher profits and dividends over the coming few reporting seasons.
ASX banks getting a free ~$1.6 billion profit kick
The extra cash…
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