“In July 2008 when cash rate was 7% and variable loan rate hit about 9.6%5 banks profit margin was just 37%.”
See, your numbers do lie!
Cash rate now .75%, variable loan rate 3.15%, margin has fallen from 2.6% to 2.4%, a 8% reduction.
on lending 100,000 in 2008, banks would make $2,600. Now they only make $2,400.
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