The underlying financial strength of the big four got them through a turbulent decade just gone. More competitiveness is needed to get them through the next 10 years.
in 2015, the banks’ challenges for the next decade begin with weathering this year’s economic slowdown as the Reserve Bank of Australia seeks to tame the last mile of inflation.
the hallmark of Australian banking has been resilience. Australia’s big banks held up well during the global financial crisis, though backstopped by emergency government guarantees, in part because they had not indulged in American-style risky home lending or financial engineering that hid and concentrated risk rather than spread it.
But it raised questions about whether the remaining smaller, regional banks possess the scale required to invest in the technological arms race of modern banking, amplified by the pile-on of regulatory imposts.
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