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Yes we can, says CBA's Cant

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Australian Broker | 16 Mar 2011, 06:00 AM Agree 0
A senior CBA executive has called on mortgage lenders to surmount serious challenges threatening growth over coming years
  • positivebroker | 16 Mar 2011, 03:09 PM Agree 0
    It hurts to agree with CBA but this is a pretty good summary of the issues affecting competition. It's just a pity they don't understand the broker market which is also a key driver of competition.
  • Ozboy | 17 Mar 2011, 09:31 AM Agree 0
    Your right on positivebroker however the only point I would disagree on is that the CBA knows exactly what the broker market is about it seems some brokers don't understand what are the key drivers for CBA.
  • Patrick | 17 Mar 2011, 01:59 PM Agree 0
    What on earth does banks are paying "in the order of ten times the amount they were paying for foreign funding prior to the global financial crisis" mean. If referring to wholesale rates which were say about 5% pre-GFC they would now be paying 50%, but that is clearly implausible. If referring to wholesale risk margins, if these were .20% and have risen to 2.0% we would have seen much much more than just an extra 0.25% above RBA increases. Unintelligent, inaccurate commentary such as this from senior bankers is condencending claptrap. They are the losers because the largely quite well informed public merely writes down their credibility. If you cry wolf you get what you deserve.
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