Research May 2010
Commercial Banks
24-May-2010
SUN finally delivered its general insurance update, having not provided any forward looking statements during its 1H10 result. The update contained one target, being a 3% improvement in the underlying insurance margin. The underlying margin concept ........
17-May-2010
We provide our updated forecasts for NAB, ANZ, WBC, CBA and MQG on the back of the most recent reporting season.
06-May-2010
The 1H10 result revealed many of the same old characteristics for NAB. But there is good news and the future must be brighter ........
05-May-2010
It seems that there have been many bulls on net interest margins (NIM), not the least of which has been the company. At its 1Q10 briefing, WBC management said “the reported (net interest) margins (were) little changed from 2H09”. Unfortunately for shareholders, the NIM for 2H09 was 2.39% but it fell by 11 bps to reach 2.28% in 1H10........