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Which are the five biggest banks in Australia?

October 20, 2021 Comments Off on Which are the five biggest banks in Australia? By admin

The biggest banks have been named by analysts at Morgan Stanley as the three biggest in Australia for the 2008 financial crisis.

The bank analysts say that while the banks were in trouble, the government did not act aggressively enough and the economic environment was not in its best shape.

In a report released today, Morgan Stanley analyst Matthew Johnson says the five banks have a combined total of more than $1 trillion in assets, which makes them the biggest banks by assets.

Mr Johnson says that while banks may have taken a hit in 2008, they will still be in the black after their bailout in November.

“The banks that were bailed out by the Australian Government in November 2008 have seen their capital requirements rise by around $60 billion and their loans taken up by about $130 billion,” he said.

“So, they’re not doing well in the current economic climate.”

But there’s no doubt the banks have done well and are on the path to recovery.

“Mr Johnson said the banks would be under pressure to keep their assets as low as possible.”

That means the banks will need to be very tight-lipped about the true extent of the damage to the economy and to the financial system,” he added.

Morgan Stanley is one of several analysts to predict that the five largest banks will have losses for the next six months.

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