it looks like WBC and ANZ are trying to do something about their profitability, one by cutting branches and the Westpac CORE program, the other by acquiring Suncorp Bank and becoming more profitable that way.
Their profits should go back up especially with NIM increasing, WBC could go back to $35, ANZ back to $30,
But Westpac should expect a response by CBA in Sydney? NAB might give a response to ANZ in Victoria and whatever markets Suncorp was in, mainly Agri.
WBC appears set to be a turnaround play.
Ann: Westpac Market Update, page-30
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