I agree Goodwill amortisation is a non cash item, BUT it does represent the excess of consideration (cash in this case) already paid to aquire the net assets of Colonial.
They are now trying to reduce expenses by ..... guess wat... more staff cuts.
They are a clever Bank but they did pay a large premium for the colonial asset IMHO, now they are paying for it as returns on capital from that asset are reduced due to the poor returns from the investment market
Just my opinion.
Harrystaff What do you think?, page-10
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