0043 GMT - Australian banks' balance-sheet strength and the economic backdrop aren't enough to justify the rise in their shares over 2024, Macquarie analysts write in a note to clients. They say that pre-provision earnings growth looks sluggish, with headline earnings supported by low impairment charges. They say that tailwinds from low impairments are probably ending, while competition and cost headwinds limit scope for further EPS upgrades. Higher impairments could weigh on dividend yields, they add. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 17, 2024 19:43 ET (00:43 GMT)
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