Regionals and minnows earning less
The combined profitability of the nine banks counted by APRA as "other" - meaning the three regional banks and six specialist banks - fell more heavily in 2008 than for any other sub-group of banks.The return on assets for the nine banks fell to 0.6 per cent in 2008 from 1.3 per cent in 2007. Return on equity fell to 8.4 per cent from 15.0 per cent.St George Bank used to count in this group but was sold to Westpac in late 2008.