Bank competition - Select Committee

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floydbloke

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#317514 23-Oct-2024 10:21

Stuff have summarised ANZ's, the first bank to appear, responses.

I'm far from an expert, but it seems to me that CEO Antonia Watson has gone full-on defensive.

As I said though, I'm no expert so keen to hear others' opinions, especially those better versed in this sort of thing on whether her answers are valid/justified.

Sometimes I use big words I don't always fully understand in an effort to make myself sound more photosynthesis.

Kyanar

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#3300396 23-Oct-2024 10:54

I'm confused why "per-capita profit" is somehow an unfair measure. "We're bigger than our parent" doesn't really justify why per individual in the country, they make twice the profit than their parent does. And it also raises the question - wut, how exactly is ANZ New Zealand larger than ANZ Australia? If that were true, ANZ New Zealand would be where all the decisions were made, but it's not.

Handle9

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#3300766 23-Oct-2024 23:58

Kyanar:

I'm confused why "per-capita profit" is somehow an unfair measure. "We're bigger than our parent" doesn't really justify why per individual in the country, they make twice the profit than their parent does. And it also raises the question - wut, how exactly is ANZ New Zealand larger than ANZ Australia? If that were true, ANZ New Zealand would be where all the decisions were made, but it's not.

They didn't say ANZ NZ was bigger than ANZ AU, they said they had better market share.

Per capita profit is a really strange metric to use.

If the bank has high market share it will naturally make high profit per capita while if it has low market share it will have low per capita profit. It doesn't actually reflect their margin or profit per customer.