The banks’ rivers of gold are facing another blow
Australian banks are facing challenges as the housing market slows down. The recent changes in tax policies have raised concerns about the future of mortgage lending. Despite reporting significant profits, the banks' shares have seen a notable decline in value.
- ▪The year 2026 has not been favorable for bank shareholders, with shares underperforming.
- ▪CBA shares experienced a record drop of 10.4 percent following the budget announcement.
- ▪The big four banks made a combined profit of $15.2 billion in their first half, yet face tougher market conditions.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.