The major Australian banks have demonstrated their resilience and strength in the global market by reporting strong profits for the first half of 2010.
While international competitors continue to deal with issues such as government ownership, sovereign debt levels and economic uncertainty, the majors have capitalised on a prudent approach to risk management and a buoyant domestic economy producing statutory profit before tax of $14.0 billion in H1 2010 compared to $9.7 billion in H2 2009.