Respectfully disagree, recognise your unfettered support for these three ongoing non performers.
The banks are NOT repeat NOT guaranteed by the Federal Govt, that protection was removed some time ago by then Liberal Treasurer Peter Costello, did not trust the banks. The then Rudd labor Govt did bail them out during the GFC with some limited deposit assurances. Agreed the diminishing yields are better than the current savings rate but with some high degree of capital risk unlike savings, but still much less than the increasing inflation rate. The widening NIM's has so far eluded them, and the cost margins are increasing. As for the franking, assuming the Labor Govt vandals do not ultimately filch them to pay for their profligate spending, are not always 100%, from memory ANZ had from time-to-time a lesser %. All that said if you consider the banking sector a progressive and investor friendly asset for your allocation, despite an inexorable decline in the sp (ie exc CBA well below pre GFC highs in 2007) then go for it, your capital at risk.
WBC Price at posting:
$23.67 Sentiment: None Disclosure: Held
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