Comment: Commonwealth Bank is losing market share in core franchises, dancing with all manner of clowns disrupting and disputing fintech and gaining market share where it probably doesn’t count.
The bottom line: CBA’s legacy of government ownership and the public’s appetite and regard for its brand and, yep, even its reputation confer an unbelievable, extraordinary value and competitive advantage on the bank.
CBA is number one in essentially each and every banking product market. And well done one and all.
Banking Day is certain Anthony Albanese, Jim Chalmers and Andrew Leigh are plotting an explosive, luscious tax attack on the Australian banking industry.
Beginning with Commonwealth Bank of Australia.
I’d be putting a trillion in the forward estimates.