<p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2022/06/westpac.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2022/06/westpac.jpg"/></p>
<p>澳大利亞銀行正全力以赴，即使該國經濟放緩，也在擊敗全球同行。</p>
<p>西太平洋銀行（WBC）股價在過去五個連續交易日上漲了超過 42.50%，今年以來表現強勁。</p>
<p>同樣，澳新集團股價飆升了 22%，也達到了歷史最高點。澳大利亞商業銀行（CBA）股價飆升了近 32%，而澳新集團股價上漲了 22%。澳新銀行今年上漲了 30%。</p>
<p>這些銀行的表現優於相關公司。備受關注的 KBW 銀行 ETF（KBWB）今年上漲不到 25%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2024/09/ANZ-vs.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2024/09/ANZ-vs.png"/></p>
<p><em>澳新 vs 西太 vs CBA vs NAB vs KBWB</em></p>
<h2>澳大利亞經濟疲軟</h2>
<p>儘管跡象表明該國經濟正在放緩，但澳大利亞大型銀行今年表現出色。</p>
<p>最新數據顯示，經濟增長在第二季度放緩至 1.1%，而在第一季度增長了 1.6%。</p>
<p>這一增長率在 2021 年增長超過 9% 後開始放緩，分析師預計放緩勢頭將繼續。</p>
<p>作為澳大利亞經濟重要組成部分的大宗商品今年表現不一。黃金價格飆升至歷史高位，而鐵礦石和煤炭等商品因中國需求疲軟而出現回落。</p>
<p>更多經濟數據顯示，澳大利亞人仍在應對生活成本危機，因為通脹率仍高於其他國家。勞動力市場在過去幾個月略微放緩，失業率超過 4%。</p>
<h2>澳洲聯儲利率</h2>
<p>這些銀行儘管面臨經濟挑戰，但表現出色的首要原因是澳大利亞聯邦儲備銀行（RBA）已成為全球最鷹派的央行。</p>
<p>最近的會議記錄顯示，官員們在最近一次會議上考慮加息，理由是通脹持續偏高。</p>
<p>這是一種高度分歧的態度，考慮到大多數央行已開始削減利率。在美國，美聯儲暗示將在下次會議上開始削減利率。</p>
<p>歐洲央行（ECB）、英格蘭銀行（BoE）和瑞士國家銀行（SNB）也削減了利率。預計這些銀行中的大多數今年將進一步降息。</p>
<p>從理論上講，銀行在利率較高時受益，因為淨利差較高。這是他們持有現金或放貸所賺取的利率減去他們向存款人提供的利率。</p>
<p>然而，較高的利率會帶來意想不到的後果。當利率上升到像澳大利亞這樣的高位時，許多人傾向於將資金從銀行轉移到支付更高利率的貨幣市場基金。</p>
<p>該國統計局的數據顯示，去年 12 月託管基金總額達到 4.75 萬億澳元，託管基金的綜合資產達到 3.8 萬億澳元。</p>
<p>利率上升的另一個意外後果是導致消費者和公司的違約率上升。</p>
<h2>澳大利亞銀行上半年利潤下滑</h2>
<p>儘管最近的業績顯示這些銀行上半年的財務狀況有所放緩，但這些股票仍大幅上漲。</p>
<p>作為該國最大銀行，CBA 的税後淨利潤（NPAT）在上半年下降了 8%，至 48 億澳元。該銀行指出，這一下滑是因為該期間運營費用增加。其淨利差也略微下降至 1.99%。</p>
<p>作為表現最佳的澳大利亞銀行股票，西太平洋銀行的淨利差在上個季度上升至 1.92%，因客户存款增加了 154 億澳元以上。</p>
<p>澳新銀行上半年營收下降了 3%，淨利潤下降了 11%，至 39 億澳元。澳新銀行的法定税後利潤下降了 4%，至 34 億美元。</p>
<p>值得注意的是，大多數澳大利亞最大銀行的核心一級資本比率低於其全球同行。澳新銀行的比率最高，為 13.5%，而 NAB 的比率為 12.5%，西太平洋銀行和 CBA 的比率為 12%。核心一級資本比率是一個重要的數字，顯示了銀行準備金與風險加權資產的比例。</p>
<p>此外，有跡象表明這些銀行面臨激烈競爭，這解釋了為什麼它們中的大多數已經開始降息。就在上週，CBA 銀行為新借款人削減了利率，因為抵押貸款行業的競爭加劇。</p>
<p>澳大利亞最大銀行面臨的另一個風險是它們不再便宜。CBA 的市淨率為 3.24，而 NAB、西太和澳新的倍數分別為 2.0、1.52 和 1.38。以堅實資產負債表而聞名的摩根大通的倍數為 2，遠低於 CBA 銀行的倍數。</p>
<p>因此，這些銀行在短期內可能會繼續上漲，但隨着一些投資者開始獲利了結，回調也不可避免。</p>
<p>本文來源於 Invezz，原文鏈接：Here’s why ANZ, CBA, NAB, and Westpac share prices are surging</p>

<p>澳大利亞銀行，包括西太平洋銀行、澳新銀行、澳洲聯邦銀行和國民銀行，儘管經濟增速放緩，但股價出現顯著上漲，表現優於全球同行。西太平洋銀行的股價今年已上漲超過 42.5%，而澳洲聯邦銀行和國民銀行分別上漲近 32% 和 30%。澳大利亞儲備銀行仍然持鷹派立場，支持提高利率，這提振了銀行的淨利差，儘管不良貸款增加。儘管財報顯示了一些下滑，但抵押貸款領域的激烈競爭導致銀行降低利率，這增加了未來盈利風險，因為銀行估值上升</p>

<p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2022/06/westpac.jpg" alt="" original-src="https://ik.imagekit.io/invezz/uploads/2022/06/westpac.jpg"/></p>
<p>Australian banks are firing on all cylinders and are beating their global peers even as the country’s economy slows.</p>
<div class="lb-trans"><p>澳大利亞銀行正全力以赴，即使該國經濟放緩，也在擊敗全球同行。</p>
</div><p>Westpac Banking Corporation (WBC) share price has risen in the last five consecutive days and by over 42.50% this year.</p>
<div class="lb-trans"><p>西太平洋銀行（WBC）股價在過去五個連續交易日上漲了超過 42.50%，今年以來表現強勁。</p>
</div><p>Similarly, ANZ Group stock has soared by 22% and is also sitting at its highest point on record. Commercial Bank of Australia (CBA) shares soared by almost 32% while ANZ Group shares are up by 22%. NAB Bank has risen by 30% this year.</p>
<div class="lb-trans"><p>同樣，澳新集團股價飆升了 22%，也達到了歷史最高點。澳大利亞商業銀行（CBA）股價飆升了近 32%，而澳新集團股價上漲了 22%。澳新銀行今年上漲了 30%。</p>
</div><p>These banks are outperforming related companies. The closely watched KBW Bank ETF (KBWB) has risen by less than 25% this year.</p>
<div class="lb-trans"><p>這些銀行的表現優於相關公司。備受關注的 KBW 銀行 ETF（KBWB）今年上漲不到 25%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2024/09/ANZ-vs.png" alt="" original-src="https://ik.imagekit.io/invezz/uploads/2024/09/ANZ-vs.png"/></p>
<p><em>ANZ vs WestPac vs CBA vs NAB vs KBWB</em></p>
<div class="lb-trans"><p><em>澳新 vs 西太 vs CBA vs NAB vs KBWB</em></p>
</div><h2>Australia economic weakness</h2>
<div class="lb-trans"><h2>澳大利亞經濟疲軟</h2>
</div><p>Big Australian banks have done welll this year even as signs showed that the country’s economy was slowing.</p>
<div class="lb-trans"><p>儘管跡象表明該國經濟正在放緩，但澳大利亞大型銀行今年表現出色。</p>
</div><p>The most recent data showed that the economic growth softened to 1.1% in the second quarter after rising by 1.6% in the first quarter.</p>
<div class="lb-trans"><p>最新數據顯示，經濟增長在第二季度放緩至 1.1%，而在第一季度增長了 1.6%。</p>
</div><p>This growth rate has been slowing after growing by over 9% in 2021 and analysts expect the slowdown to continue further.</p>
<div class="lb-trans"><p>這一增長率在 2021 年增長超過 9% 後開始放緩，分析師預計放緩勢頭將繼續。</p>
</div><p>Commodities, which are an important part of the Australian economy have been mixed this year. Gold has soared to a record high while commodities like iron ore and coal have retreated because of the Chinese weakness.</p>
<div class="lb-trans"><p>作為澳大利亞經濟重要組成部分的大宗商品今年表現不一。黃金價格飆升至歷史高位，而鐵礦石和煤炭等商品因中國需求疲軟而出現回落。</p>
</div><p>More economic data has shown that Australians are still dealing with the cost of living crisis as inflation has remained higher than in other countries. The labor market has also softened slightly in the past few months, with the jobless rate being over 4%.</p>
<div class="lb-trans"><p>更多經濟數據顯示，澳大利亞人仍在應對生活成本危機，因為通脹率仍高於其他國家。勞動力市場在過去幾個月略微放緩，失業率超過 4%。</p>
</div><h2>RBA interest rates</h2>
<div class="lb-trans"><h2>澳洲聯儲利率</h2>
</div><p>The first main reason why these banks have done well despite the economic challenges is that the Reserve Bank of Australia (RBA) has become the most hawkish central bank in the world.</p>
<div class="lb-trans"><p>這些銀行儘管面臨經濟挑戰，但表現出色的首要原因是澳大利亞聯邦儲備銀行（RBA）已成為全球最鷹派的央行。</p>
</div><p>The last minutes showed that officials deliberated hiking interest rates in the last meeting, citing the stubbornly high inflation.</p>
<div class="lb-trans"><p>最近的會議記錄顯示，官員們在最近一次會議上考慮加息，理由是通脹持續偏高。</p>
</div><p>This was a highly divergent tone considering that most central banks have started to slash interest rates. In the United States, the Fed has hinted that it will start to trim its rates in the next meeting.</p>
<div class="lb-trans"><p>這是一種高度分歧的態度，考慮到大多數央行已開始削減利率。在美國，美聯儲暗示將在下次會議上開始削減利率。</p>
</div><p>The European Central Bank (ECB), Bank of England (BoE), and the Swiss National Bank (SNB) have also slashed interest rates. Most of these banks are expected to deliver more cuts this year.</p>
<div class="lb-trans"><p>歐洲央行（ECB）、英格蘭銀行（BoE）和瑞士國家銀行（SNB）也削減了利率。預計這些銀行中的大多數今年將進一步降息。</p>
</div><p>In theory, banks benefit when interest rates are high because of the higher Net Interest Margin (NIM). That is the interest rate they make for holding cash or lending minus the rate they offer their depositors</p>
<div class="lb-trans"><p>從理論上講，銀行在利率較高時受益，因為淨利差較高。這是他們持有現金或放貸所賺取的利率減去他們向存款人提供的利率。</p>
</div><p>Higher interest rates have unintended consequences though. When rates rise so high, as they are in Australia, many people tend to move their money from banks to money market funds, which pay a higher rate.</p>
<div class="lb-trans"><p>然而，較高的利率會帶來意想不到的後果。當利率上升到像澳大利亞這樣的高位時，許多人傾向於將資金從銀行轉移到支付更高利率的貨幣市場基金。</p>
</div><p>Data by the country’s statistics bureau shows that the total managed funds rose to A$4.75 trillion in December last year while consolidated assets of managed funds hit A$3.8 trillion.</p>
<div class="lb-trans"><p>該國統計局的數據顯示，去年 12 月託管基金總額達到 4.75 萬億澳元，託管基金的綜合資產達到 3.8 萬億澳元。</p>
</div><p>The other unintended consequence of higher rates is that it leads to higher default rates among consumers and companies.</p>
<div class="lb-trans"><p>利率上升的另一個意外後果是導致消費者和公司的違約率上升。</p>
</div><h2>Australian banks profits eased in the first half</h2>
<div class="lb-trans"><h2>澳大利亞銀行上半年利潤下滑</h2>
</div><p>These stocks have surged even after the recent results showed that their financial results eased in the first half of the year.</p>
<div class="lb-trans"><p>儘管最近的業績顯示這些銀行上半年的財務狀況有所放緩，但這些股票仍大幅上漲。</p>
</div><p>CBA, the biggest bank in the country, saw its net profit after tax (NPAT) fall by 8% to A$4.8 billion in the first half. The bank noted that the decline was because of higher operating expenses during the period. Its NIM also retreated slightly to 1.99%.</p>
<div class="lb-trans"><p>作為該國最大銀行，CBA 的税後淨利潤（NPAT）在上半年下降了 8%，至 48 億澳元。該銀行指出，這一下滑是因為該期間運營費用增加。其淨利差也略微下降至 1.99%。</p>
</div><p>Westpac, the best-performing Australian bank stock, saw its NIM rise to 1.92% in the last quarter as customer deposits jumped by over A$15.4 billion.</p>
<div class="lb-trans"><p>作為表現最佳的澳大利亞銀行股票，西太平洋銀行的淨利差在上個季度上升至 1.92%，因客户存款增加了 154 億澳元以上。</p>
</div><p>NAB Bank’s revenue dropped by 3% in the first half of the year while net profit fell by 11% to A$3.9 billion. ANZ’s statutory profit after tax fell by 4% to $3.4 billion.</p>
<div class="lb-trans"><p>澳新銀行上半年營收下降了 3%，淨利潤下降了 11%，至 39 億澳元。澳新銀行的法定税後利潤下降了 4%，至 34 億美元。</p>
</div><p>Notably, most of Australia’s biggest banks have a lower CET1 ratio than their global peers. ANZ Bank has the highest rate of 13.5% while NAB has a ratio of 12.5% while Westpac and CBA have 12%. CET ratio is an important number that shows how a bank’s reserves compared to risk-weighted assets.</p>
<div class="lb-trans"><p>值得注意的是，大多數澳大利亞最大銀行的核心一級資本比率低於其全球同行。澳新銀行的比率最高，為 13.5%，而 NAB 的比率為 12.5%，西太平洋銀行和 CBA 的比率為 12%。核心一級資本比率是一個重要的數字，顯示了銀行準備金與風險加權資產的比例。</p>
</div><p>Additionally, there are signs that these banks are seeing strong competition, which explains why most of them have started cuttig interest rates. Just last week, CBA Bank slashed rates for new borrowers as the competition in the mortgage industry tightened.</p>
<div class="lb-trans"><p>此外，有跡象表明這些銀行面臨激烈競爭，這解釋了為什麼它們中的大多數已經開始降息。就在上週，CBA 銀行為新借款人削減了利率，因為抵押貸款行業的競爭加劇。</p>
</div><p>Another risk for Australia’s biggest banks is that they are no longer cheap. CBA has a price-to-book ratio of 3.24 while NAB, Westpac, and ANZ have multiples of 2.0, 1.52, and 1.38, respectively. JP Morgan, a bank known for its fortress balance sheet has a multiple of 2, much lower than that of CBA Bank.</p>
<div class="lb-trans"><p>澳大利亞最大銀行面臨的另一個風險是它們不再便宜。CBA 的市淨率為 3.24，而 NAB、西太和澳新的倍數分別為 2.0、1.52 和 1.38。以堅實資產負債表而聞名的摩根大通的倍數為 2，遠低於 CBA 銀行的倍數。</p>
</div><p>Therefore, these banks will likely continue rising in the near term but a pullback cannot be ruled out as some investors start taking profits.</p>
<div class="lb-trans"><p>因此，這些銀行在短期內可能會繼續上漲，但隨着一些投資者開始獲利了結，回調也不可避免。</p>
</div><p>The post Here’s why ANZ, CBA, NAB, and Westpac share prices are surging appeared first on Invezz</p>
<div class="lb-trans"><p>本文來源於 Invezz，原文鏈接：Here’s why ANZ, CBA, NAB, and Westpac share prices are surging</p>
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以下是澳新銀行（ANZ）、聯邦銀行（CBA）、國民銀行（NAB）和西太平洋銀行（Westpac）股價飆升的原因