The banking cosy oligopoly is coming to an end they will be under pressure from foreign banks and from fin techs and they will all eat away at the 4 banks margins and NIM that are already under pressure,the likes of Microsoft,Apple,MasterCard and Visa who all have very deep pockets and know Australian banks are the most profitable in the world. The big banks SP is back where they were 10 years ago and there are good reasons why like earning but if you wish to ignore technology and think that it is business as usual after this hiccup the I think your wealth will suffer ,the business environment has changed lower bank dividends are here to stay for many years,if you want growth you will need to have some of your portfolio invested in overseas financials as well as local companies.
WBC Price at posting:
$15.92 Sentiment: Hold Disclosure: Held
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