Except the days of banks paying dividends of 4-5% are pretty much over.
Those consumers that can, are paying off debt (credit cards included) at record levels. Those that can't are heading for default on their loans. The property bubble is about to burst and the RBA interest rates are staying sub 0.5% for years to come. Consumer credit availability is becoming more and more diluted, resulting in further reduced profit for providers.
Tell me again where the banking silver lining is?
Growth and dividends will not be found in the banks and once the big super funds start to realise this, all bets are off. It will be a race for the exit imo.
NAB Price at posting:
$17.35 Sentiment: None Disclosure: Not Held
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