SYDNEY, April 30 Reuters Three of Australias Big Four banks are set to unveil a more than doubling in interim profits, higher dividends and lower provisioning for bad debts next week, as the economy recovers from the COVID19 pandemic.

Australias economy has emerged from recession and all signs are that 2021 has started on a firm footing helped by massive monetary and fiscal stimulus. The governments successful virus containment efforts, soaring house prices and improved job market have helped to boost consumer confidence and spending.

The countrys financial institutions have now largely recovered from a damaging Royal Commission inquiry into the sector that in 2018 uncovered widespread misconduct, leading to numerous class actions and penalties over the past two years.

On Monday, Westpac Banking Corp will kick off earnings where writebacks for loan provisioning will help drive cash earnings for the six months to March 31 to about A3.28 billion 2.56 billion, according to a Reuters poll. That will be more than triple its interim cash profit a year earlier.

Australia and New Zealand Banking Group is due to report on Wednesday, with analysts expecting a more than doubling of its interim profit to A3.19 billion.

National Australia Bank NAB will follow on Thursday, with interim earnings expected to surge to A3 billion, also more than doubling from the previous year.

The profit recovery at Westpac, Australias secondlargest bank, will likely be accompanied by a 86 hike in…