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Banking Matters
PwC's Banking Matters provides in-depth analysis of the financial results of the major Australian banks and also explores current and future banking trends from Australia and across our global network.
Current edition
Major Banks Analysis Full Year - November 2021
Emerging strong - on shifting sands
Profits rebound to pre-pandemic levels and banks remain in great shape. Shifting sands set the stage for further transformation.
In this edition, we found that as we emerge from lockdowns, Australia’s four major banks are in very good shape and are entering a new phase of transformation. Profits returned to pre-pandemic levels, with economic uncertainty reducing, a significant write-back in credit provisions and lower notable expenses. Reputation has dramatically improved as the Banks supported the country through the pandemic and they have managed to continue progress on the transformation of technology, remediation and simplification of businesses.
The combination of long-term headwinds, intensifying (and broadening) competition and accelerating changes in their environment present the Banks with great opportunities and challenges in the outlook. From the decarbonising economy to the future of the workforce and the impact of digitising the financial system, it is these ‘shifting sands’ that we believe provide the impetus for the Banks’ next phase of transformation. Banks that respond with the challenging balance of haste and care will reap the rewards.
Banking Matters
PwC's Banking Matters series incorporates our regular Major Banks Analysis and industry Hot Topic.
Our Major Banks Analysis provides in-depth analysis and commentary of the financial results of the four major Australian banks, with insights for local and global banking communities.
Our regular Hot Topic explores current and future banking issues and trends, addressing important challenges, opportunities and imperatives facing the banks including risk, regulation, remediation, transformation, workforce, technology, leadership, executive accountability, pricing and cost management.
At the same time, we bring together the right mix of advisers and contributors from inside and outside of PwC demonstrating that important problems are better solved together. PwC is a powerful multiplier of connections and innovation, we bring passionate people together so that insights become impact, opportunities become outcomes and society benefits.
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