Is anyone else of the opinion as I am that Westpac should shut up shop as a bank and get into selling banana smoothies as they did such a great job selling the public on how a banking compares to selling banana smoothies.
Since this in 2009 they have tread water with a market cap of ~$77Billion vs ~$75Billion today. Back then they were the equal of CBA after purchasing St George, today they are less half the size. (CBA ~$162Billion)
As a Westpac customer it is clearly evident where they have lost the plot. Try and borrow money from Westpac and they will only do so if you have assets (I.e. brick & mortar) to leverage, taking on risk and pricing loans accordingly is non-existent. This a clearly lazy banking and they are the LAZY bank.
I was of the opinion that banking was about risk mitigation and that personal and business loans should be assessed and priced on a risk basis, with higher margins for more risky loans, of course within pre-defined parameters
Unfortunately, this is not the case and Westpac is so risk adverse that it has forgotten what banking is about, is it not time for a rethink of leadership at the top?
If you deal with CBA you will note there approach is more tailored, incorporates a little risk, is priced accordingly and as such profits and it market cap has been rewarded accordingly. Why I am still banking with Westpac, frankly no idea.
Not even Westpac would lend Westpac money to start a Banana Smoothie stall based on value appreciation, unless of course they mortgage all their properties and they may qualify, nah to risky.
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westpac banking corporation
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Banana Smoothies and Poor Management
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Last
$33.56 |
Change
-0.250(0.74%) |
Mkt cap ! $114.8B |
Open | High | Low | Value | Volume |
$33.80 | $33.85 | $33.52 | $74.21M | 2.206M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2029 | $33.56 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$33.60 | 124 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1 | 33.560 |
2 | 2200 | 33.550 |
2 | 170 | 33.540 |
2 | 3693 | 33.530 |
4 | 1355 | 33.520 |
Price($) | Vol. | No. |
---|---|---|
33.600 | 124 | 1 |
33.660 | 1709 | 1 |
33.690 | 1355 | 4 |
33.730 | 17759 | 2 |
33.750 | 6358 | 2 |
Last trade - 16.10pm 14/07/2025 (20 minute delay) ? |
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