Small banks are forcing an industry sea change

Westpac’s Lloyds buy is a dress rehearsal for the cultural change big banks will increasingly need, with small contenders becoming a growing threat.

Few people realise that at least 10 new small banks have emerged in Australia in the past few years.  They are still small, and while they do not pose a threat to the majors at the moment, they hint at the shape of things to come.


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