hard to stomach this , page-13

Hi all

Many here are down ramping ANZ

This was the only bank along with NAB that came transparent and told the market about bad debt and wrote off them

The market punished them but they are the two banks that are seeming to be good for value as per even global investors. In fact the global investors think that ANZ is the best bank in terms of price to book value and NTA.

WBC unfortunately has made the SGB purchase at a very high cost and their bad debt is going to affect them and that is why it is falling so much. CBA has been very stealthy and their exposure to Allco and ABC alone is 1 billion $.

God only knows these people's exposure to the villain BNB.

Sara