Early Days, but Trump's Victory Looks to Be Positive for Australia's Wide-Moat Major Banks
Elevated volatility hitting global investment markets following the surprise election of Donald Trump as president of the United States doesn’t affect our long-term positive view on the four Australian wide-moat major banks. This view is based on a relatively benign environment for key long-term earnings drivers such as credit growth, net interest margins, fee income, cost control and, most important, bad debt. Following Trump’s victory, we remind investors of the importance of our underlying in...Commonwealth Bank of Australia provides integrated financial services including retail, business and institutional banking, funds management, superannuation, life insurance, general insurance, broking services and finance company activities. Co. operates in seven segments, Retail banking Services, Business and Private Banking, Institutional Banking and Markets, Wealth Management, New Zealand, Bankwest, as well as International Financial Services and Other Divisions. As of June 30 2016, Co. had total assets of A$933.1 million and total deposits of A$588.0 million.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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