ANZ expected to take the lead in results season
ANZ has been tipped to outshine its commercial banking competitors this reporting season with the strongest underlying profit growth among the Big Four, an estimate shows.
According to a Credit Swisse report, ANZ will lead the charge with a 5 per cent jump in underlying profits and strong sequential revenue growth.
Both ANZ and NAB are expected to outperform, while the Commonwealth Bank and Westpac are expected to underperform, Credit Swisse said.
Favourable lending balance growth momentum and strong profitability in ANZ’s Asian arm are predicted to drive the bank’s growth.
The Big four and Macquarie Bank are due to report their profits in early May.
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