when will it end, page-25

Unfortunately, I believe what you posted is correct - may not be the case if there is a turnaround in the interest rates being so low - but that could be 4 or 5 years away.

Staff culling and branch closures are already happening - I know of an ANZ and a NAB branch that has closed this year in the vicinity of where I work. Both of those branches opened when Moses was in nappies.

@JCoure posted a while back that smaller lenders may impact on the banks. The banks have pretty much held those lenders off BUT the WBC money laundering case and the mud that is now sticking to all big 4 banks will start opening up the market - and I think that may already have started.

The big 4 banks will survive of course but maybe we will see dividends settle a bit lower for the next decade. Banks will adapt and being so big will allow them to recover a dominant position. For that reason, they are still a good investment - particularly long term. I think an SP for NAB around the $25-26 may be a very fair one when potential returns are factored in - Dividends may well be in the 70-80 cents twice a year. That is still attractive - and still a stable return too. Banks are very resilient.

There are a lot of extreme predictions around about their demise but, as Twain said, they are greatly exaggerated.

I have to be upfront in that my holdings are quite minimal at the moment - I'll be looking to see what happens in the WBC case early next year but investing in NAB will continue and my holdings are planned to increase again.