By Andrew Mackinnon
Last updated: 21st October, 2023
Assets – Loans receivable – As at 30th June, 2022
Commonwealth Bank of Australia – $878.9 billion AUD
Westpac Banking Corporation – $739.6 billion AUD
National Australia Bank – $680.4 billion AUD
Total – $2,298.9 billion AUD
Liabilities – Deposits – As at 30th June, 2022
Commonwealth Bank of Australia – $857.6 billion AUD
Westpac Banking Corporation – $659.1 billion AUD
National Australia Bank – $683.5 billion AUD
Total – $2,200.2 billion AUD
Banks create money when they lend by debiting (i.e. adding to) their “Assets – Loans receivable” account for the amount lent and crediting (i.e. adding to) their “Liabilities – Deposits” account for the same amount lent to provide the principal loaned to the borrower in the borrower’s bank account.
The difference between the two totals above can be explained by payments made to the bank accounts of other banks operating in Australia, cash withdrawals and interest payments made by the borrowers on their loans out of their bank accounts, which are not deducted from the “Assets – Loans receivable” accounts of the banks but are instead added to the “Equity – Interest income” accounts of the banks.
Equity – Interest income – From 1st July, 2021 to 30th June, 2022
Commonwealth Bank of Australia – $24.0 billion AUD
Westpac Banking Corporation – $23.0 billion AUD
National Australia Bank – $21.5 billion AUD
Total – $68.5 billion AUD
Australia – 31st December, 2021 – Estimated population – 26 million
Australia – 31st December, 2021 – Estimated number of adults aged 18 years or over – 20.4 million
(i.e. 78.3% of estimated population; 65.1/83.1 x 100% of estimated population; life expectancy of 83.1 years; 0 years of age to 17 years of age being approximately 18 years; 0 years to 83.1 years being 83.1 years)
Average interest payment per year by adults in Australia to the banks, Commonwealth Bank of Australia, Westpac Banking Corporation and National Australia Bank, from 1st July, 2021 to 30th June, 2022 – $3,357.84 AUD
(i.e. $68.5 billion AUD / 20.4 million)
Average interest payment per week by adults in Australia to the banks, Commonwealth Bank of Australia, Westpac Banking Corporation and National Australia Bank, from 1st July, 2021 to 30th June, 2022 – $64.57 AUD
(i.e. $3,357.84 AUD / 52)
This relatively small average interest payment per week by adults in Australia is further evidence that the interest charged by the banks in Australia on the money they create out of nothing when they lend is a lowlife, Jewish (i.e. Edomitish) fraud, the perpetrators of which are trying to escape detection by not charging too much interest. However, the amount of interest paid to the banks by adults in Australia with mortgages on residential properties in Australia is obviously not small, with interest paid over the life of any given mortgage generally totalling about 80% of the principal borrowed.
Sources:
commbank.com.au/content/dam/commbank-assets/about-us/2022-08/2022-annual-report_spreads.pdf
westpac.com.au/content/dam/public/wbc/documents/pdf/aw/ic/WBC_2022_Annual_Report.pdf
nab.com.au/content/dam/nab/documents/reports/corporate/2022-annual-report.pdf
Postscript:
I have not included the Australia and New Zealand Banking Group (ANZ) in this analysis, because the financial statements in the 2022 annual report for the Australia and New Zealand Banking Group (ANZ) are for the different period from 1st October, 2021 to 30th September, 2022 for the income statement and for the different “as at” date 30th September, 2022 for the balance sheet.
There are obviously a significant number of other banks operating in Australia that I have also not included in the simple analysis above.
https://en.wikipedia.org/wiki/List_of_banks_in_Australia