ASX Bank Stocks: Top Performers Ahead of the RBA November Decision

Investors are keeping a close eye on ASX bank stocks ahead of the Reserve Bank of Australia's (RBA) November interest rate decision. Banking shares can be influenced by changes in interest rates, lending activity, deposit growth and net interest margins.

Commonwealth Bank (ASX: CBA), Westpac (ASX: WBC) and National Australia Bank (ASX: NAB) are three major Australian banks worth watching. Here's a closer look at their latest financial results, dividends and key business metrics.

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1. Commonwealth Bank of Australia (ASX: CBA)

Commonwealth Bank (ASX: CBA) is one of Australia's largest listed banks, with a market capitalisation of $278.99 billion and an annual fully franked dividend yield of 3.02%.

The bank announced its FY26 results on 12 August 2026, reporting a 6.2% year-on-year increase in operating income to $30.2 billion. Its net interest margin (NIM) reached 2.05%, while cash net profit after tax (NPAT) increased by 7% to $11 billion. Statutory NPAT also grew by 8%.

CBA reported retail market share of 34.2% and business market share of 26.0%.

Shareholders received a fully franked dividend of $5.05 per share for FY26, representing a payout ratio of 77% of cash NPAT.

The bank also reported a CET1 capital ratio of 12%, an LCR of 132% and an NSFR of 115%.

2. Westpac Banking Corporation (ASX: WBC)

Westpac (ASX: WBC) is another major name among Australian bank stocks. The bank has a market capitalisation of $125.93 billion and a fully franked dividend yield of 4.18%.

Westpac announced its FY26 full-year results on 2 November 2026. Customer deposits increased by 6% year on year to $766 billion, while loans grew by 5% to $901 billion.

Pre-provision profit, excluding notable items, rose by 4% to $10.9 billion. Net profit excluding notable items reached $7 billion.

Westpac reported a net interest margin of 1.87% and a return on average ordinary tangible equity of 11.1%.

The bank declared a final fully franked dividend of 77 cents per share, taking its total FY26 dividend to 154 cents per share.

Its CET1 capital ratio stood at 12.5%, while the quarterly average LCR reached 137%. Stressed exposures to total committed exposures declined to 1.17%.

3. National Australia Bank Limited (ASX: NAB)

National Australia Bank (ASX: NAB) is one of Australia's leading financial services companies. It currently has a market capitalisation of $129.40 billion and an annual fully franked dividend yield of 4.09%.

In its third-quarter trading update announced on 17 August 2026, NAB reported a net interest margin of 1.79% and net interest income of $4.6 billion.

Unaudited statutory net profit increased by 32% compared with the first-half FY26 quarterly average to $1.81 billion. Unaudited cash earnings increased by 2% against the first-half quarterly average and 4% against the third quarter of FY25, reaching $1.83 billion.

The bank reported non-performing exposures of 1.50% of gross loans and acceptances. Its quarterly average LCR stood at 134%, while its NSFR reached 115% for June 2026.

NAB's Level 2 Group CET1 capital ratio was 11.9% in June 2026.

Source: Company announcements.