Australian banks demonstrate resilience says RBA
Australia's banking system remained strong during the first half of 2010 as a result of a return to profitability for the country's largest banks, the Reserve Bank of Australia (RBA) said in its Financial Stability Review published on Thursday.
The central bank said the pick-up in profitability of its largest banks over the first half of the year reflected further growth in interest income and a decline in bad and doubtful debt charges.
Australia's four major banks - ANZ Banking Group, National
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