IMHO CBA will be affected the worst (has the most residential property portfolio and greatest NIM issues), then NAB (it’s business lenders and Victorian portfolio look very poor in light of the current crisis), then WBC and ANZ.
Other banks might be very adversely affected by the six month moratorium adversely affecting residential landlords. I think if that is allowed to stay in force Australian residential properties will never come back and will be worth a fraction of what they once were.
Landlords are in the worst position of all but followed closely by the banks that financed them. The everlasting damage to confidence may never go away and all immigration to Australia will be stopped as I think the locals will most likely go nuts of foreigners start to be perceived to have advantages in the property market.
very bad for all banks, no question, but still a while to play out IMHO.
WBC Price at posting:
$15.23 Sentiment: Hold Disclosure: Not Held
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