The upcoming bank results will likely demonstrate that revenue and profit growth estimates may be too high.
We are expecting cost control to become an increasing focus for investors analysing bank results. Pressure continues to build on Boards to reconsider their dividend positions. Payout ratios at 80% appear too high given the added capital requirement banks face in the next 18 months.
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WBC and NAB are likely to modestly reduce dividends. Out of the 4 majors, ANZ is the only bank with positive a technical structure.
ANZ.ASX
