In its latest look at the banks KPMG notes that he lending environment continues to be flat, aggregate gross loans for survey participants reducing by 0.04% in the December quarter, increasing by 0.19% in the year. However profits are up. It says survey participants achieved a profit of $1,147m in the quarter, an increase of $77m compared to September 2011. December 2011 profits are $430m higher than those earned in the December 2010 quarter.
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