Well, yes, a smaller bank. If the strategy is executed well, then as expenses are decreased, the return on capital should improve, all else being equal, and the SP and dividends should increase.
Execution is the thing.
The Royal Commission etc caused them to put on an army of workers to sort out the legacy mistakes and frauds. Hopefully, if and when they clear up the legacies and transform to a more efficient business- they can let go most of that army- and prosper.
Something like that.
WBC Price at posting:
$23.59 Sentiment: Buy Disclosure: Held
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