Really, are you serious with those claims. Initially, thought it must have been the 1 April not some date in March.
"Largely good governance" your words, decades of scandals, inquiries, and the odd Royal Commission into banking sector misconduct, usually on a large scale to the financial detriment of many customers and shareholders, but not any banking executives. Following the most recent RC, we were informed by the banking sector, along the lines "we are reformed, and learned our lesson, blah blah." Nonetheless, the customary media reports of banking sector scandals continue unabated (eg ANZ [holder] and the bond market being the most recent.)
As to the claims for earnings and so on. The banking sector and its market share have been declining for some time due to increased competition, reduced margins, and relic type internal systems and the inability to think beyond the next remuneration report. Adjusted earnings and dividends are also in serious jeopardy, as are the share prices (exc CBA - non holder) stagnating over time.
The Australian banking sector is a collection of 1970's banks, and despite its protected status with the politicians, is yet to emerge into the 21 st century in any meaningful manner.
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