For what it is worth, there is such a thing as a 'Corruption Perceptions Index' if anyone wants to look it up- a measure of perceived corruption globally- you can agree or disagree with the analysis. Our NZ friends with Denmark and Finland are up the top. Australia, UK and the US are in the peloton behind- obviously not perfect. Russia and the Ukraine are somewhere near the bottom- similar scores to PNG.
The relevance is that the compilers claim that their is a correlation between a benign perception of corruption and GDP- less corrupt countries do better economically. So, it is more important than ever that WBC gets its processes and systems in order- as noted by the Royal Commission and others- otherwise WBC may not survive well another snafu.
I agree that the market seems to be doing well again- but markets have been yoyoing of late- so it can still go pear shaped- for the market and for WBC. I mentioned WBC so I am on topic. The NIM for WBC is better than that of ANZ so that is a good thing. i am confident that management can reduce expenses and that is what the market is really waiting for. Etc.
Other than that- life is good- be kind to everyone...
IMHO DYOR
WBC Price at posting:
$22.83 Sentiment: Buy Disclosure: Held
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