Business
Bank boom: Big four profits snap back from COVID-19 threat – Sydney Morning Herald
This time last year, NAB chief executive Ross McEwan was bracing for what many thought would be the worst economic crisis since the 1930s Great Depression.
Bank CEOs have an interest in making glass half-full public comments, but they too have been noticeably upbeat. ANZ Bank chief Shayne Elliott even flirted with the idea Australia was in economic boom territory.
GDPs really strong, unemployments falling, house prices are up. Its probably – I dont know if youd use the boom word, but you wouldnt be far away, Elliott said this week.
Investors are similarly bullish. While bank shares didnt shoot the lights out this week, NAB, ANZ and Westpac have rallied…
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