The ANZ (ASX:ANZ) share price leads the ASX 200 banks this week fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
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20 May, 2021 Author Ranina SanglapRehan Ahmad
The ongoing earnings recovery at Australia s major banks may gather steam as the economy bounces back from its first recession in 30 years and global demand for commodities such as iron ore, copper and natural gas rises.
Three of Australia s major banking groups reported improved cash earnings for the fiscal first half ended March 31, helped by the country s economic recovery from the COVID-19 pandemic and lower notable charges. Australia and New Zealand Banking Group Ltd., Westpac Banking Corp. and National Australia Bank Ltd. all said that credit impairment writebacks boosted their profits in the period.
The
Commonwealth Bank of Australia(ASX: CBA) share price has gone from strength to strength following the company’s third-quarter update on 12 May.
The bank’s shares are currently up another 1.53% today at $98.06 after setting another all-time record high of $98.40 in earlier trade. Many investors will be keenly wondering whether CBA shares can potentially break the $100 mark for the first time on record.
With the Commonwealth Bank share price outperforming its big four peers in recent weeks, will it plateau or continue to run? Here’s what analysts at
Macquarie are thinking.
Where Macquarie thinks the CBA share price will go next
The Bendigo Bank (ASX:BEN) share price has outperformed the big four
Brooke Cooper | May 14, 2021 3:13pm |
More on:
Since this time last year, shares in
Bendigo and Adelaide Bank Ltd(ASX: BEN) have performed better than those in Australia’s big four banks. The Bendigo Bank share price has gained 82.62% over the last 12 months.
That’s an ever-so-slightly superior result than the best performing of the big four banks,
Australian and New Zealand Banking Group Ltd(ASX: ANZ), and notably better than the other three banks. The ANZ share price has gained 82.05% since 14 May 2020 and the other three majors have each gained between 65% and 71%.
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