Fitch affirms Australia's four major banks

The US-based ratings agency, Fitch Ratings, published its latest report, affirming ratings of the Australian banks.

Key Points:

 Fitch Ratings has affirmed the ratings of Australia's four major banking groups: Australia and New Zealand Banking Group Limited (ANZ); Commonwealth Bank of Australia (CBA); National Australia Bank Limited (NAB); and Westpac Banking Corporation (WBC).

The Outlook on each bank's Long-Term Issuer Default Rating (IDR) is Stable. 

The rating review focuses on the Australian-domiciled entities within each group and therefore does not encompass their overseas subsidiaries.

Stable, transparent and traditional business models have proven effective in generating strong and sustainable profitability, while the banks maintained a conservative risk appetite relative to international peers.

Full report here