What’s MM current view on the BIG 4 Banks (ANZ, CBA, NAB, and WBC)?

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Question asked 29/04/2023

What’s MM current view on the BIG 4 Banks (ANZ, CBA, NAB, and WBC)?

Hi James and Teams Can I have your current view on the 4 Big banks. Market Matters hold CBA and NAB in your Income portfolio and ANZ and NAB in your growth portfolio. ANZ, NAB and WBC will be reporting in May. The Banks have all weakened since CBA reported in Feb followed by the Silicon Valley Bank collapse etc. Will you be holding for the dividends for income or look to selling if the Banks rally into the reporting. regards Debbie

Answer

Hi Debbie,

As you say we hold the banks across our 2 main portfolios with a similar outlook on both which is basically stay as we are, in our opinion the “Big 4” remain solid and not overly impacted by the ructions in the US regional space but I reiterate we have no interest in the Australian regionals until further notice:

Flagship Growth Portfolio – We remain comfortable with our mildly underweight banking exposure, we hold ANZ & NAB as you said plus Macquarie Group (MQG), as we have flagged previously a dip of ~10% is required to see us consider increasing our exposure.
Active Income Portfolio – We have no plans to cut our CBA and NAB positions ahead of the latter’s report and dividend in May. We have a ~13% total portfolio exposure to bank equity, with additional exposure via Hybrids.

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LAST UPDATED 27/04/2023 14:49

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