WBC was and remains the worst performing bank of the big 4, long standing dud bank, poor systems, dated outlook towards everything, embedded 1980's culture, missed every opportunity to reform, incumbent CEO King was recruited specifically to fast-track reform, but has capitulated to "business as usual". Excluding CBA, other two major (ANZ, NAB) almost as bad, moribund and stale, unable or unwilling to move from their pampered bankers and related entitlements status. Mortgage businesses retreating, overtaken by the non-bank lenders, and totally bereft of new or contemporary business acumen.
WBC Price at posting:
$21.06 Sentiment: None Disclosure: Held
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