big four

While the firms agreed there’s an opportunity to review the regulatory oversight of consulting firms, they told a Senate inquiry they had no plans to voluntarily break up their businesses, despite claims of inherent conflicts of interest.

Higher net interest margins helped drive a nearly 17 per cent increase in the banks’ combined cash profits from a year ago. But a 400 per cent increase in their interest expenses and stiffer lending competition are contributing to a weaker outlook going forward, analysts say.