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CBA demerger plans on hold “indefinitely”

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Madison Utley | 15 Mar 2019, 02:35 AM Agree 0
Revised timeline “impossible” but NewCo heads retain leadership roles
  • Broker | 15 Mar 2019, 08:08 AM Agree 0
    CBA will need to hold on to Aussie to get some sort of market share into the future , as surely the vast majority of Brokers have finally woken up and deserted this ungrateful , broker hating rabble for good.
  • Paul | 15 Mar 2019, 09:32 AM Agree 0
    yep agree with you, every broker needs to make CBA accountable for their self interested broker bashing.
  • Phil4Finance | 15 Mar 2019, 09:46 AM Agree 0
    How much of the % loans "outside the big banks" is going to BankWest (also a 100% owned subsidiary of CBA and not a true small bank)?
    Anecdotally, Aussie brokers two main choices given to customers have been BankWest or CBA.
    • 15 years a broker | 15 Mar 2019, 12:34 PM Agree 0
      I am sorry, but anecdotally, you have no idea what you are talking about! The Aussie Home loan product was funded until by both CBA through RMG and Macquarie Bank (until recently) and 50 % more loans were written through the MACQ channel than the CBA channel. Given that the Aussie product makes up about 12% of total origination it is very little. Direct origination to Bankwest and CBA you will be surprised to know is also very little. As an example, I have been an Aussie broker for over 15 years and in the last two years I have placed two with BW and four with CBA. The previous 8 years were very similar and most of us most of us steer well clear, without any pressure loaded on us to do otherwise.
  • Leaving | 15 Mar 2019, 09:57 AM Agree 0
    Yes, Comyn-Hayne is waiting until Labour get in and ruin broker business and competition. Then he will dump his brokers. Hayne should have had enough common sense and done more research more making these horrible recommendations that have caused much anxiety and upheaval.
  • SEQ Broker | 15 Mar 2019, 10:04 AM Agree 0
    Yep.
    Changed aggregation recently and didn't bother with the switch over for that particular accred.
  • Anon | 15 Mar 2019, 10:07 AM Agree 0
    Broker, no brokers have not woken up and Aussie will be sold off shortly.
  • | 15 Mar 2019, 12:15 PM Agree 0
    ‘Anecdotally’ that is incorrect
  • Oli | 17 Mar 2019, 12:14 AM Agree 0
    if I was a betting man then I would think the Symond's are way too smart NOT to have a plan here...
    • Broker | 18 Mar 2019, 01:52 PM Agree 0
      No much need for a plan , as CBA own 100% of Aussie . Aussie John executed his plan by selling this off 18 or so months ago , must have known what was on the horizon.
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