Industry Analysis & Industry Trends
Foreign banks are still licking wounds caused by the financial crisis. Intense competition from national and regional commercial banks has not made it easy for the industry to heal. In addition, the number of foreign banks has grown, so revenue is being split across more players. Although Asian banks are increasingly establishing a presence here, European banks are scaling back. Many of the European banks are being forced to recapitalise on their home soil and are therefore refocusing funds and efforts on repairing their balance sheets back home. Asian banks are taking the opportunity to muscle out weaker European banks.
Foreign bank subsidiaries such as HSBC and ING Direct are in for the long haul... purchase to read more
Industry Report - Industry Analysis Chapter
Foreign banks are still making their mark in Australia, although the global financial crisis has limited their ability to do so. As many of these banks are based in Europe, several have been forced to pull back from the Australian market because of the financial crisis, and instead redirect funds back to their home countries. On the other hand, Asian banks have begun to establish subsidiaries here. In general, the banks have been able to capitalise on globalisation and the movement of customers between countries. IBISWorld estimates that industry revenue will decline at a compound annual rate of 11.2% over the five years through 2012-13. This is due primarily to sharp contractions in 2008-09 and 2009-10 and the low interest rate environment that followed after... purchase to read more