Suddenly the banking industry is becoming a lot more 'exciting'. But I am not sure the enormous army of bank shareholders, who are there for the dividend yield, will welcome that excitement.
In simple terms banks are going to face a lot more competition as technology opens the market but they are also starting to squabble among themselves because, outside housing, the market is not growing. And even in dwellings the big Chinese banks are eating the locals’ lunch (The tidal wave of Asian money rushing into Australia’s inner cities, June 16).
