For dividend investors it is very important to have confidence...

For dividend investors it is very important to have confidence in a company's dividend stability and MYS is the only bank, large or small, with 100% dividend "Stability" which is why I said it was purely a dividend play.
It is certainly not a 100% dividend play. In fact it's last payout ratio ratio was 76% which is excellent preservation of capital and a credit to the Board in resisting any temptation to lift the final dividend further as it could have done. This also gives me confidence that the Board is fulfilling its statutory obligations in monitoring the quality and source of business being written.
So APRA's prudential audits are a waste of time? Certainly not my experience.