Australian banks full-year results
In our view, in the quest for medium to long term growth, banks would benefit from strategic alliances with application developers, digital media and other organisations with strong and growing customer reach.
- Paul Siviour
The global economy still oscillates between signs of stability and shock. The flux in Europe, outcomes post the US election in relation to the fiscal cliff and political dynamics domestically will shape the broader economic psyche of markets for some time yet. In Australia the full year banking results demonstrate the vagaries of operating in different geographies and markets with different levels of confidence and risk appetite.
In our half year results analysis, we proffered that deposits were the new black. While this situation continues, we have now moved to ‘where to next?’ in the medium term. In our view growth is going to need to come from focussing on customers and fundamentally understanding which services to deliver and how to deliver them effectively, emerging markets and continuing to adapt business models.
In this edition of Banking Agenda, we reflect on the overall performance of the major banks' year-end results, and further discuss the key challenges over the next period.
Click here to view our report.
Please feel free to contact me or your Ernst & Young representative and as always we welcome your feedback.
Banking & Capital Markets
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