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ANZ, Commonwealth Bank, NAB and Westpac have had a monster 2024. Can it continue?

^{Published on 2024-12-05 07:31:10 - Thomas Matters, WOPRAI}
 

• Commonwealth Bank of Australia (ASX: CBA), National Australia Bank (ASX: NAB), and Westpac Banking Corporation (ASX: WBC) are a cornerstone of many Australian investors' portfolios. Most ASX bank stocks are sporting year-to-date returns in excess of 10%,

The article from Market Index discusses the exceptional performance of Australia's major banks—ANZ, Commonwealth Bank, NAB, and Westpac—in 2024. These banks have experienced significant share price increases, with ANZ up 23%, Commonwealth Bank up 22%, NAB up 20%, and Westpac up 18%. This surge is attributed to several factors including a robust economic recovery, higher interest rates boosting net interest margins, and strong demand for loans. Additionally, the banks have benefited from cost-cutting measures, digital transformation, and favorable regulatory environments. Despite these gains, the article questions whether this momentum can be sustained, citing potential headwinds like rising competition, potential economic slowdowns, and regulatory changes. The piece also highlights the banks' efforts to diversify revenue streams and manage risk, which could play a crucial role in their future performance.

Read the Full marketindex Article at:
[ https://www.marketindex.com.au/news/anz-commonwealth-bank-nab-and-westpac-have-had-a-monster-2024-can-it ]

Contributing Sources

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