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Article: Shares slump as investors dismiss safe-haven theme.(Australian banks report negative returns)(Brief Article)(Statistical Data Included)
- Article from:
- Australian Banking & Finance
- Article date:
- March 31, 2001
CopyrightCOPYRIGHT 2001 First Charlton Communications Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NATIONAL AUSTRALIA BANK AND its four biggest rivals occupied five of the top eight places in the S&P/ASX 20 Leaders Index last year. In the past two weeks they are five of the 10 worst performers.
Australia's banks had reaped record profits from the nation's nine-year economic expansion and their earnings held up in the Last reporting season when others declined. Now, banks are facing increased regulation on card-network charges and corporate failures have reminded investors of the risks, ...