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Article: Banks can't avoid a bashing.
- Article from:
- Australasian Business Intelligence
- Article date:
- November 8, 2009
CopyrightCOPYRIGHT 2009 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Matthew Drummond
Nov 08, 2009 (The Australian Financial Review - ABIX via COMTEX) -- Westpac Bank's $A4.6 billion cash profit reinforces that basic banking has returned to fashion. Senior figures such as Gail Kelly and Mike Smith, the respective heads of Westpac and ANZ Bank, caution against excessive, ill-considered regulation of the sector. Booz & Company suggests that a new social contract could be emerging, and that by 2011 banks could be regulated in a similar way to public ...