BUZZ-Australian banks drop; Macquarie sees Feb cut dragging margins by 1-2 bps
Reuters
Mar 03, 2025
BUZZ-Australian banks drop; <a href="https://laohu8.com/S/MQG.AU">Macquarie</a> sees Feb cut dragging margins by 1-2 bps
** Australia's financial sub-index .AXFJ currently down 0.6%
** "Big Four" banks - Commonwealth Bank of AustraliaCBA.AX, National Australia Bank NAB.AX, Westpac WBC.AX and ANZ ANZ.AX - trading between 0.3% and 0.7% lower
** Analysts at Macquarie expect profit margins for major Australian banks to fall by 1-2 bps after the RBA's February rate cut
** We expect the market to continue to focus on margin expectations, which we believe are too high and likely to lead to further share-price headwinds - Brokerage
** Macquarie feels the earnings upgrade cycle for the Aussie banking sector maybe over
** Continues to see downside risk to consensus earnings and margins in FY26 as the impact of rate cuts flow through to margins
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
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