THE DISTILLERY: Westpac warfare

One jotter says Westpac has the biggest job ahead in the battle for deposits, while another praises Kelly's strategy defence.

While borrowers might celebrate falling interest rates, the banks are mustering their troops for a battle over depositors and Westpac Bank boss Gail Kelly is the latest general to lay out her battle plan. Is Westpac’s multi-brand strategy too cost effective, as CBA’s boss might have you believe, and how are mortgage holders going to be marginalised by this shift? All these questions are deposited in Friday's edition of The Distillery.

The Age’s banking writer Eric Johnston says Kelly vigorously defended her multi-brand strategy, headlined by the reintroduction of Bank of Melbourne, during questioning yesterday.



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