Look no further than the banks to see a stubborn productivity problem
Investors either have a longer time horizon than we thought, or are happy to pay more for less. We now know it is the latter, and that does not bode well.
Look no further than Australia’s four major banks to see the country’s stubborn productivity problem in full flight.
Years of fattening up compliance teams, responding to red tape and now working through technology system upgrades has all four banks growing costs well above revenue growth.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
