Reporting season for the four major banks has finished.
Looking beyond the massive profits, they all released their strategic focus…
– Every bank is planning to grow lending to businesses
– Every bank is planning to reduce volume of loans from brokers and use inhouse lenders
– Every bank is planning to win more deposits and accounts with customers
– Every bank is planning for their customers to suddenly love them more and give them 5 star reviews
– Every bank is planning to boost their technology capabilities
– Every bank is planning to find savings to off-set cost blowouts
With every bank aiming for the same outcomes, not everyone can win.
There will be losers and then the blame games.
