The Big Picture for the Major Banks Is Playing Out as Expected, but CBD Apartment Risk Is Increasing
The big picture for Australia’s four wide-moat major banks is playing out as expected. Loan growth is slowing but only modestly; net interest margins, or NIMs, are under pressure but are well managed; operating cost growth lags revenue growth; and bad debts will continue to increase from historical low levels. We expect the four major banks to need approximately AUD 20 billion in new capital during the next three to four years to fund asset growth and satisfy future capital regulatory requiremen...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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