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Australian Big Four To Pass $25b In Profit

|Includes:ANZBY, CBAUF, iShares MSCI Australia ETF (EWA), NAUBF, WBK

From the Sydney Morning Herald's Eric Johnston:

THE combined annual cash profit of Australia's four big banks is set to pass $25 billion, with earnings helped by widening profit margins and a fall away in bad debts.

Westpac is on Monday scheduled to round off the big bank reporting season, with the nation's second-biggest lender tipped to deliver a profit of $6.46 billion.

This would be up slightly from last year's $6.30 billion.

This is behind Commonwealth Bank's bumper $7.11 billion profit and ANZ's $6.01 billion.

National Australia Bank was the only major bank to see profit go backwards, following problems at its UK banks, with earnings down 0.5 per cent to $5.43 billion.

Read more: http://www.smh.com.au/business/big-four-to-pass-25b-in-profit-20121104-28s36.html#ixzz2BJIS7eub

Stocks: EWA, CBAUF, WBK, NAUBF, ANZBY