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To understand what the broker channel thinks of the big four banks, Momentum Intelligence, in partnership with The Adviser, asked brokers to have their say on the pillars of the banking industry. Annie Kane takes a look at some of the top findings from the Third Party Lending Report: Major Banks.
The four pillars of the Australian banking system — the Australia and New Zealand Banking Group (ANZ), the Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac — have taken a beating in the last year. From damning allegations of misconduct during the financial services royal commission to the Productivity Commission’s censorious report on competition in the country’s financial system, the foundations of the banking system have been well and truly shaken.
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