'Big four' banks made huge profits as Australians took out bigger mortgages for pricier housing

Australia's big for banks — ANZ, CBA, NAB and Westpac — now hold $1.87 trillion in home loans. (ABC News: Alistair Kroie)

Australia's big four banks — ANZ, CBA, NAB and Westpac — now hold a whopping $1.87 trillion in home loans.

Throughout 2021, as Australian house prices skyrocketed, Australians kept on taking bigger mortgages — many worth more than six times their income — pushing up the profits of the big four banks.