Australia’s biggest banks are expected to cut dividend payments and tap bond mar...
- Australia’s biggest banks are expected to cut dividend payments and tap bond markets for more funding to cope with tougher capital requirements as regulators look to safeguard the sector from future market volatility, according to analysts and bankers.
However, the meetings this year come as Australia’s banks are under increasing pressure to boost their capital. Separately, the Reserve Bank of New Zealand has proposed almost doubling its capital requirements of its largest banks within the next five years. “We expect the CBA and Westpac to join ANZ and NAB in cutting dividends should rates continue to fall.”
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