Clyne's comments on raising rates tends to suggest Nab is looking to reduce its share of the low margin and politically sensitive housing loan market to chase higher returns on credit cards and business lending.
They also appear to be keen on bringing forward revenues on loan break and discharge fees.
When things return to normal they can get back in the home loan market.
Very counter intuitive! Very cunning strategy!
The problem is that people see the commentary on need to improve margins as an indication that Nab is the only Australian bank headed the way of its peers in the US and UK. Clyne just wants his low returning capital tied up in home loans back to chase better returns elsewhere.
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