There’s a new monetary order – will it be cruel or kind to our banks?
Much has changed since the global financial crisis and after a decade of low interest rates. Major lenders won’t be able to rely on what worked in the past.
As the nation’s largest lender, the Commonwealth Bank often reminds its investors just how central it is to the Australian economy.
Last week, the bank’s chief executive, Matt Comyn, explained how over the past decade the value of deposits in a CBA account had doubled to $800 billion while loans to customers had increased 60 per cent to $900 billion.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
