So the banks, especially CBA, need immigrants for their Sydney...

So the banks, especially CBA, need immigrants for their Sydney and Melbourne residential property price growth and positive equity in Australian housing.

if the immigration tap turns off, on the margins, especially in Sydney west, and Melbourne west, where negative gear properties are close to negative equity, immigration holds up the market not only in prices but rents (tenants may be international and boost rental yields)

I am not saying I support what Australian voters are doing, but they are hammering the LNP in the polls for their allegedly “high” “out of control” “excessive immigration numbers.

so much so the ruling LNP Government faces a landslide, leadership turnover, State and Federal, based on the Australia First and immigration votes alone before you get to the hopeless apocalyptic economy and the appalling state of Australian employment figures (official and unofficial) IMHO.

All affect banking negatively. Government insurrections, leadership challenges, defections do not add to bank profitability or to economic sentiment or stability in the banking system IMHO.

Temporary visa holders (or hidden immigration or student visas) are also important for the banks as they contribute to personal banking stats, unsecured loans (high interest rate), digital take up and FX movements (high charge) as well as international capital movement and high rate high fee transactions.

they have been pilloried by the Shadow Home Affairs Minister who has dog whistled against them and threatens to destroy bipartisan support for the high rate, high fee, highly profitable temporary visa/ student visa group of customers IMHO.