Market Report, "Australia Commercial Banking Report Q4 2012", Published
BMI View: Australian banks should see their margin growth turn negative as we expect the housing market to continue to deteriorate and economic conditions sour. With little prospect of profits from businesses and real estate, we maintain our expectations for loan growth to contract by 2.0% 2012, while banks increase their proportion of funding from deposits as uncertainty grows in external financing markets. We maintain our bearish view on the sector, expecting higher funding costs and deteriorating asset quality to...
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