NAB super profits = cost of living pressure for customers

Today’s announcement by the National Australia Bank that it made a cash profit for the June quarter of $1.1 billion, up from $0.9 billion in the same quarter of 2009, shows that the big banks were able to exploit the global financial crisis to increase their profits, according to The Australia Institute. “A 22 per cent profit increase in a difficult economic climate shows how powerful the banks are due to a lack of competition,” said Senior Research Fellow David Richardson.

Related documents

Attachment

Related research

General Enquiries

02 6130 0530

mail@australiainstitute.org.au

Media Enquiries

Anna Chang Communications Director

0422 775 161

anna@australiainstitute.org.au

RSS Feed

Media Releases