Too true, a tonne of money is going to be made when WBC turns, but the problem is when is that going to occur?? After a 700million- 3 billion fine?? somewhere between the two numbers I expect.
You would be taking a big risk buying now. I hold ANZ, a bank that has come out of this whole royal commission relatively unscathed, however a sinking tide lowers all ships....
Yes great buying opportunities for all banks especially because they will do all they can to keep paying their dividend as this is why so many mum and dad investors put their money here.
Shit show on the banks but it needed to happen. When I opened my ANZ account and they told me I had to pay $5 a month if I did not move money between my saving and current account ($5000 a month, It was something like that) you know alarm bells are ringing.
But. thats the game we play/ Banks (other than WBC) will be fine. I will take the 8% divi anyday........
WBC Price at posting:
$24.44 Sentiment: Buy Disclosure: Held
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