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By Praveen Menon and Byron Kaye
SYDNEY, May 5 (Reuters) - Australia's top banks may be forced to look beyond their traditional residential mortgages business for growth as the windfall from high interest rates peaks and the risks from runaway inflation and competition rises.
ANZ Banking Group Ltd, which reported a 23% jump in cash profit on Friday, signalled it will look to diversify beyond mortgages, which have become increasingly competitive.
"It (Australian home loans) is certainly not as ...
>>> Read more: Australia's top banks look to diversify from mortgages as rates peak
SYDNEY, May 5 (Reuters) - Australia's top banks may be forced to look beyond their traditional residential mortgages business for growth as the windfall from high interest rates peaks and the risks from runaway inflation and competition rises.
ANZ Banking Group Ltd, which reported a 23% jump in cash profit on Friday, signalled it will look to diversify beyond mortgages, which have become increasingly competitive.
"It (Australian home loans) is certainly not as ...
>>> Read more: Australia's top banks look to diversify from mortgages as rates peak
