Forager Funds Management Chief Investment Officer Steve Johnson says Australia has a “very concentrated banking sector” and the big four banks should not be buying more market share.
“Because it is quite clearly from my perspective not going to be good for consumers,” he told Sky News Australia.
“I think you’re seeing some of that in the very concentrated insurance space as well where not only are they passing on prices but they’re making pretty healthy profits at the moment as well.”
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