Goldman Sachs sees 'tough' earnings season for Australian banking giants

Sydney

IT'S going to be a "tough" earnings season for Australia's biggest banks, according to Goldman Sachs Group Inc.

Full-year results due from three of the lenders - starting with National Australia Bank Ltd on Thursday - are poised to show that a record-breaking run of profits is coming to an end amid higher funding costs, lower interest margins and rising bad-debt charges.