Report shows Big Four banks are scoring off household mortgages
THE big banks are creaming off almost $100,000 in profit from struggling home owners in our major capital cities, data shows. The banks’ profit levels on the average 25-year mortgage more than doubled in the past 12 years as property prices rose. The numbers raise questions about claims from the banks that higher funding costs are crimping profits and preventing them from passing on the full benefits of Reserve Bank rate cuts.
Related documents
Between the Lines Newsletter
The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.
You might also like
Betting the house. The huge number of Australians at risk of losing everything they own.
At a time when floods, fires and storms are growing in severity and frequency, new research by The Australia Institute reveals millions of Australians would face financial ruin if their home was impacted by a natural disaster.
ANZ profit completes obscene $43 billion quadrella
The ANZ bank has today posted an $8.8 billion profit, completing an obscene quadrella from Australia’s big 4 banks.
Westpac profits from the pain of regular Australians – but there is a solution
Westpac has today announced a full-year profit of $10 billion before tax for the financial year ending on 30 September, 2025. Westpac is one of Australia’s “big four” banks, which together control 72% of all loans to Australian residents. By market capitalisation, Westpac ranks as Australia’s fifth largest listed company and third largest bank. Westpac