The combined cash earnings of Australia’s four major banks fell by 2.5 per cent in 2015-6, to $A29.6bn. They recorded net interest income growth of 5.5 per cent, to $A60.3bn, but non-interest income was down 3.1 per cent at $A23.5bn. Michael Rowland of KPMG says the banks are facing a number of headwinds, including the prospect of lower growth in revenue and return on equity, growing competition and an increase in regulatory costs.
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