Australian Banks

[pipoz4444]

Finally the Australian Banks are getting what they deserve

First the Commonwealth Bank with a $700 Million fine last year and now Westpac will need to answer for their practices

But you have to “love it” when the Chief Executive, gets a 12-month notice period and USD 1.82 Million during that period just to F.....Off, as opposed to going to jail


https://www.bbc.com/news/world-australia-50553855

[GT93]

The Aussie banks or more accurately their subsidiaries are closing branches in NZ. My local ANZ branch closed in August. I think the bastards are using Covid 19 as an excuse to do what they had wanted to do to continue to grow their profits. Are they closing branches in Oz? I suspect they are.

[Bandung_Dero]

Suburban and country branches of most of the major banks are closing across the country. The so called "Boutique" banks are being the most ruthless now only operating one branch in each of the capital cities.

I have an account with SunCorp-Metway which I opened in Suburban Perth. Now, the only state wide branches are in QLD. BUT in saying that IMHO, accept for servicing elderly, computer illiterate customers and with modern technology taking over there is really no economic reason to have these small outlets.

AND yes the 4 major banks have a lot of dirty laundry being aired out at present. Nothing to do with COVID-19.

[pipoz4444]

I no longer support the Australian Banking system. Its is both corrupt and expensive (from an administration point) with little or no return for the Aussie Customer.

This is where one should be.


]Gold 2 Year Graph.PNG[/attachment]

pipoz4444

[tamada]

[Bandung_Dero]

Hey, if you can't beat em join em.
As a share holder of CBA & NAB for many years I'm laughing me sox off.
Capital gains and dividend yields have been great with the RBA interest rate hikes and the strategies used, the CBA is cruising around AUD$100.00 per share and dividend @ 7 % pa plus franking credits.

The fines have had VERY little impact on we investors!

[tamada]

Yes, it's all about shareholder value and farkall to do with the customer's best interests these days.

Honestly, you'd think the banks were oil and gas companies the way they behave, maybe they think they are?

[noosard]

Banks have been this way for many years

[Bandung_Dero]

Yes Tam, strange you should say that.
Most of the rest of my portfolio is made up of Woodside, BHP - and Lithium stocks.

No good belly aching! "Make hay while the sun shines".

I haven't lived here in Thailand for the past 22 years (NEVER HAVING A GOVT PENSION) without prudent investment strategies!