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December 07: Banks and mutuals post healthy returns

by Staff Reporter4 minute read

Australian banks, credit unions and building societies have posted strong performances in 2007, according to surveys conducted by KPMG.

Latest figures from KPMG’s Financial Institutions’ Performance Survey 2007 reveal that the profits of building societies and credit unions grew by 14.3 per cent and 16.4 per cent respectively in 2007 as a result of continued asset growth coupled with ongoing cost control.

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