ANZ, Aussie Peers Miss Profit Estimates as Bad Debts Rise: ChartBy and
Australian banks, already grappling with a plethora of challenges including holding more capital and rising corporate defaults, have one more worry to contend with: the struggle to meet profit expectations. Australia & New Zealand Banking Group Ltd. and its main competitors posted first-half profits that fell short of what analysts had expected. That was the first time in at least 10 years that three of the nation’s largest lenders -- ANZ, Westpac Banking Corp. and National Australia Bank Ltd. -- missed estimates at the same time, according to data compiled by Bloomberg.
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