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 billionNAB’s profit rose 9% to $7.7 billionANZ rose 14% to $7.4 billionWestpac’s rose 26% to $7.2 billionToday Sascha and Alec look into these numbers and understand how bank profits are rising. What's going on?Want more Equity Mates? Click <a href="https://linktr.ee/equitymatesmedia" rel="noopener noreferrer" target="_blank">here</a>.&nbsp;In the spirit of reconciliation, Equity Mates Media and the hosts of The Dive acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.&nbsp;*****This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives.&nbsp;Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional.&nbsp;Equity Mates Media operates under Australian Financial Services Licence 540697.The Dive is part of the Acast Creator Network.<hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

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

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