Morningstar analysts have expressed their concerns about the short-term prospects for Australian banks.

They anticipate that margins are likely to remain under pressure, with expected increases in loan losses.

Among Australian banking institutions, the analysts have identified Westpac (ASX:WBC) and ANZ Group (ASX:ANZ) as providing the best value.

They noted that ANZ Group (ASX:ANZ) continues to outpace the market in home loans.

The intensity of competition for customer deposits is expected to remain high until fiscal 2024.

Westpac (ASX:WBC) has scheduled its results announcement for November 6, with National Australia Bank (ASX:NAB) following on November 9.

Additionally, Commonwealth Bank of Australia (ASX:CBA), the country’s largest bank, is also due to announce its first quarter results.

Westpac (ASX:WBC) is a major Australian bank and financial-service provider, well recognized in the Asia-Pacific region.