Banking
Analysts run the numbers on potential sale by Westpac Banking Corporation of wealth and insurance businesses
8th Sep 20, 9:25am
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2 Comments
The owners are squeezing out every dollar as profit, before its nationalised as a result of bankruptcy. Its what happens when your cashflow (interest paid) dries up, and your assets (mortgages) become less than you liabilities (deposits).
Covid has masked this for a short period, with central government providing stimulus never seen before, which will eventually run its course.
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