2H16 reporting season for WBC, NAB and ANZ starts on 27th of October with NAB kicking off.
We’ll be keeping an eye on expenses and cost discipline along with trends within the bad debt exposure. There’s a strong likelihood that dividends will be cut slightly, especially in WBC and NAB. Westpac is on a payout ratio above 80%. They may look to scale this back a little.
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Overall revenue is likely to flat at best and profits will show some deterioration on the same time last year.
