down costs and further boost their profits, now running at record levels.
A report has concluded that while the Big Four ANZ, Westpac, Commonwealth and NAB and the largest regional bank, St George, have become more efficient through reining in costs, operations.
continuing to fall, with the ratio of expenses to income now between 42 and 50 per cent.
ANZ led the way in the last half-year, with the lowest ratio, closely followed by St George, Westpac and Commonwealth, with NAB the highest.
But NAB continues to show the most dramatic fall in real terms, bring the bank down in 2003-04.
environment, they have been able to increase their profits by 18 billion, thanks to a growth in revenue that has well exceeded the rise in costs.
45.2 per cent for the half-year ending in March, as against 47.4 per cent just over a year ago.
increases in return on equity in an extremely competitive market," KPMG said in the report released yesterday.
"This is not to say, however, that cost-efficiency programs and continued focus on cost reductions, by following the global trend of offshoring back-office functions, will not continue given the high level of competition and declining margins."
best benchmark on costs will be a ratio of 40 per cent, though it new customers while retaining established ones.
staff and opening more branches, which requires them to reduce the spending-to-revenue ratio continues to fall.
As a result, all of the top five barring Commonwealth have either directly owned centres or, more specifically, have outsourced the work to third-party operators, resulting in the India and China.
He's a bona fide Hollywood star, and Steven Spielberg and Brad Pitt are among his fans, but what Eric Bana treasures most is his life as a suburban dad.
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