I attended the zoom call today, I focused on the future dividends as following
How to maintain the dividend.? No impact to the dividend on 2022 due the the new tax will be applied from Jan/23
The bank will try to capitalise by stopping its investment/opening the new branches due to high cost and less profit (also in response to the gov raising tax)
More digital/electronic banking to cut down the cost and inscrease the saving
Australian gov will be providing the foreign aid $500m to PNG, additional aids initially from US and Japan (to help this Pacific country out of China propaganda) will push the economy growing and as the bank profit will growth
My personal thought is the dividend may not be cut as much as 30% proportionally with the tax raise due to the above reasons, may be 10% less than previous years until the day banking industry aggressively cut spending in developing economy
Fighting with banking industry is not simple as the treasurer jealously thought
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