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Ernst & Young has analysed the 2012 full-year results of Australia's largest banks and found
the challenges around cost of funding and low levels of growth.
"In the bank's full-year reporting results we are seeing some of the vagaries of operating
in different geographies and markets, with differing levels of confidence and risk appetite,"
says Ernst & Young's Oceania Banking and Capital Markets Leader, Paul Siviour. "The four major
banks' headline cash earnings of $25.2 billion in absolute terms (up 3.7% from 2011) clearly
demonstrates the strength of Australia's banking system. But within these results, a range
of external factors highlight our reliance on the global recovery."
For the complete article, please go to Big4.com