Aussie banks have just made record profits. What's going on?

The Dive | Business News

Cost of living, inflation and interest rates have been the big economic story of the past 18 months. People and businesses are doing it tough.

So when Australia’s Big 4 Banks reported their latest results, there was a fair bit of anger:

Commonwealth Bank’s profit rose 5% to $10.2 billion

NAB’s profit rose 9% to $7.7 billion

ANZ rose 14% to $7.4 billion

Westpac’s rose 26% to $7.2 billion

Today Sascha and Alec look into these numbers and understand how bank profits are rising. What's going on?

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