πππThe financial winds have shifted. With the Federal Reserve lifting rates & the RBA matching that hawkish rhythm, the Big 4 Australian banks
$COMMONWEALTH BANK OF AUSTRALIA(CBA.AU)$ $WESTPAC BANKING CORPORATION(WBC.AU)$ $NATIONAL AUSTRALIA BANK LTD(NAB.AU)$ &
$ANZ GROUP HOLDINGS LTD(ANZ.AU)$ are set to benefit.
When interest rates rise, these banks Net Interest Margins or NIM are set to rise too. They can widen the gap between what they charge borrowers and what they pay savers, thus increasing their revenue.
ANZ is the most undervalued of the Big 4 as its Forward P/E ratio is 14.6x compared to CBA which is 23x, Westpac at 16x and NAB at 15x.
ANZ recently completed its USD 4.9 billion acquisition of $SUNCORP GROUP LTD(SUN.AU)$ . This means ANZ has acquired Suncorp's 1.2 million customers & a premier Queensland based mortgage & commercial deposit book.
ANZ also pays a dividend yield of 4.41%. It is time to buy ANZ.
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