All of our banks have adopted strategies that involve cautious expansion into overseas markets.The ANZ has been quietly building its China business and it is paying off. The NAB got carried away and paid too much for its UK investment but are now making money despite having an underperforming asset, (which I think is for sale). Suffice to say , it is a big world out there and Australian Banks are well placed to capitalise on that, so they are becoming less reliant on the Aust Market.
