Insights

Which ASX bank shares were the best performers during October?

What did October look like for Aussie bank shares?
The post Which ASX bank shares were the best performers during October? appeared first on The Motley Fool Australia. –

It’s that time again when we take a look back and review the best performing ASX-listed bank shares during the last month. While the S&P/ASX 200 Index (ASX: XJO) posted a gain of 1.9% in October, there were some banks that did better and some that performed worse.

Interestingly, the biggest gains weren’t secluded to the big four banks. Here is a look at the top performers and what they got up to during the month.

Macquarie Group Ltd (ASX: MQG)

Starting with the best performing ASX bank share, the Macquarie Group share price was the pick of the bunch for October, gaining a phenomenal 12% during the month. Investors appear to have been front-running the investment bank’s first-half results for FY22. Perhaps, in anticipation of a solid result. Well, the true numbers were released on the last trading day of October, revealing an incredible 107% lift in first-half profits to $2,043 million. Simultaneously, assets under management increased 31% to $737 billion.

National Australia Bank Ltd. (ASX: NAB)

The next best performing ASX-listed bank share during the month was the National Australia Bank, adding 5.28%. It was a relatively quiet period for the NAB share price. Likely the only notable announcements involved the stumbling appointment of a new non-executive director. While Australian entrepreneur, James Spenceley, had intended to be appointed to the board, the decision was then reversed by Spenceley due to feedback from proxy advisors.

Commonwealth Bank of Australia (ASX: CBA)

Lastly, the third best performing ASX bank share in October was none other than Australia’s biggest bank, Commonwealth Bank of Australia. The CBA share price rallied 4.6% during the 30-day period with a raft of developments concerning the bank. Although, one particularly interesting move from CBA during the month was its further push into smart payment solutions. The device is similar to Square Inc (NYSE: SQ) tile-style chip reader.

The post Which ASX bank shares were the best performers during October? appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Could the Xero (ASX:XRO) share price be a quality buy?

It’s been a great 2021 so far for the CBA (ASX:CBA) share price

Leading brokers name 3 ASX shares to buy today

How did the NAB (ASX:NAB) share price perform in October?

ASX 200 (ASX:XJO) midday update: Westpac sinks, Macquarie raises $1.5bn

Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia and Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Square. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!