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The performance of investor favourites so far this year

By Cameron Micallef · May 03 2019
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Invest

The performance of investor favourites so far this year

By Cameron Micallef
May 03 2019
Reading:
egg
egg
egg
Big four banks

The performance of investor favourites so far this year

author image
By Cameron Micallef · May 03 2019
Reading:
egg
egg
egg
Big four banks

Australia’s major banks are a portfolio staple for many Australian investors. Here’s what we know about their performance so far this year.  

After a roller-coaster year with the royal commission and property prices in free fall, bank profits are in recovery.

The three banks rose nearly $10 billion in profit, with Commonwealth Bank leading the charge.

The growth in the finance sector led to a strong day overall for the Australian market followed closely by the technology sector.

ANZ

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ANZ Banking Group has met its expectations by announcing a 2 per cent rise in cash profits from continuing operations to just over $3.5 billion in the six months leading to March 31.

Key news for investors

With this result, ANZ will pay dividends of 80 cents per share, or roughly $2.27 billion to be paid out to shareholders.

Commonwealth Bank

The half-year profits for 2019 continued to deliver strong core growth, with cash net profit after taxes from continuing operations of $4,676 million or a 1.7 per cent growth.

Key news for investors

The strong result from Australia’s largest bank-led to a jump in share price on the morning of 1 May. Shareholders are in line for an interim dividend of $2.00 per share.

National Australia Bank (NAB)

NAB’s first-half profits in the six months to March rose by 4.3 per cent to $2.7 billion compared to the same period last year.

Key news for investors

NAB has cut its dividends by 16 per cent from 99 cents a share down to 83 cents.

Westpac

Westpac’s half-year results will be released on May 6.

 

The performance of investor favourites so far this year
Big four banks
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About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

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