{
  "id": 1502303,
  "title": "Macquarie cuts Australian bank revenue forecasts",
  "url": "https://urgent.news/2026/08/17/macquarie-cuts-australian-bank-revenue-forecasts",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T15:06:13.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/macquarie-cuts-australian-bank-revenue-forecasts-93CH-4863580"
  },
  "original_language": "en",
  "account": "Macquarie has lowered its revenue projections for Australian banks by 1-2% for the fiscal year 2027, following weaker-than-expected bank results in August 2026. The banks' revenues generally fell below consensus estimates by 0-2%, although lower costs helped mitigate some of the shortfall. Only Commonwealth Bank managed to meet expectations with an in-line underlying result, while other banks failed to meet consensus pre-provision operating profit projections by 1-2%. Despite tailwinds from rate hikes and replicating portfolios, underlying margins improved but fell short of market expectations. Macquarie reduced its fiscal 2027 pre-provision operating profit estimates by 0-3%. ANZ outperformed expectations when excluding one-off items and market income, while Westpac suffered the largest shortfall against consensus. Mortgage applications have dropped by 12-20% across all banks since the budget, with investor applications decreasing by 17-28%. Industry feedback suggests the slowdown will likely persist through 2026. Macquarie anticipates credit growth to decelerate to around 3.5% and projects margins to decline by 3-5 basis points in fiscal 2027, as tailwinds from replicating portfolios moderate from 2-8 basis points in fiscal 2026 to 3-4 basis points in fiscal 2027. Macquarie maintains an underweight outlook on the sector and recommends ANZ and National Australia Bank over Commonwealth Bank and Westpac.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}