It pains me when I see Bank Shareholders whining because profits were down

[Bretrick]

ANZ shares took a hit because earnings missed analyst estimates.
The bank still made $7.4 billion profit.
Looks to me like the shareholders are the ones baying for more and more profits.
Australia's four big banks are tipped to make a combined $33 billion in profits.
Whilst the rest of us flounder to pay the mortgage and cost of living.

 

[Packerjohn]

Those banks should be ashamed of themselves posting those huge profits. Of course, they are strongly supported by governments that tax the poor but turn a blind eye away from massive profits made by the banks.

I think society calls this "Good Business." I call it, "The rich get rich, while the poor get poor." Nothing new here!

 

[Remy]

I agree. It's not business anymore with a profit. It's greed greed greed. More and more. And more is never enough.

Meantime everything goes up for the rest.

 

[Sippican]

The majority of shareholders are mutual fund companies. Mutual fund companies that manage money for seniors investments.
Seniors that rely on companies to do well, like that ANZ is making money AND paying increased dividends, which I'm sure seniors that are invested appreciate.
I'm invested in a lithium mining company in Australia so I keep track of what goes on down there. Profits are needed for growth, just a fact of business.

 

[Brookswood]

Those banks should be ashamed of themselves posting those huge profits. Of course, they are strongly supported by governments that tax the poor but turn a blind eye away from massive profits made by the banks.

I think society calls this "Good Business." I call it, "The rich get rich, while the poor get poor." Nothing new here!

What’s wrong with huge profits? How are the poor being taxed? It certainly isn’t the income tax.

I'm not a fan of banks, especially the Big 4 banks. , But some details would be nice.

 

[OneEyedDiva]

But what percentage of that 7.4 billion gets passed on to shareholders?

 

[Sippican]

But what percentage of that 7.4 billion gets passed on to shareholders?

Knowing the percentage that gets passed to shareholders really doesn't tell any kind of story.
It was a 14% increase from previous year. Thats a good return, not great, but good.
There are many other costs besides what get returned to shareholders in terms of dividends.
Debt, interest on debt, operating costs, salary costs, employee benefit costs (medical, bonuses, employee services, etc.)
Growth costs, facilities costs, etc.
Shareholders also get an increase in their share prices over what they paid, so there is a return there.
Mutual funds buy and sell shares all the time, in the best interests of the customers of the mutual funds, which are many retirees.