Smoother Sailing for Diversified Australian Banks in Softer Economy Feb 01
- ID: 2045479
- February 2001
- Region: Australia
- Standard & Poors
The credit outlook and future performance prospects for Australian banks that have diversified their business bases away from commercial banking in recent years are more positive than for those banks that are less diversified, in what is likely to be a softer economy in 2001. This is indicated by the positive outlook assigned to Commonwealth Bank of Australia (CBA), which has the most diversified business profile within its Australian major bank peer group, and Suncorp-Metway Ltd., which has the most diversified business profile within its Australian regional bank peer group. With the exception of Bendigo Bank Ltd., all other Australian banks have stable outlooks assigned. Despite their materially more diversified business profiles, CBA and Suncorp-Metway will be increasingly challenged to...
Companies mentioned in this report are:
- National Australia Bank Ltd.
- Australia and New Zealand Banking Group Ltd.
- Commonwealth Bank of Australia
- Suncorp-Metway Ltd.
- Bendigo and Adelaide Bank Ltd.
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Research Type: Commentary
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