Chanticleer
Westpac languishes at half the value of CBA after lost decade
Australia’s oldest bank was once the country’s biggest and best performing. Now, it trades at the largest discount to its big four peers in history.
It’s the big question on the minds of those who have followed the Australian banking industry for the past 30 years – how did Westpac go from being bigger than the Commonwealth Bank to less than half its size in just over a decade?
The answer is complex because apart from exploring all of Westpac’s strategic, operational and governance mistakes, the response must examine why CBA is such a high-performance outlier.
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