Global banks eye Australia: report
Let the games begin.Business Spectator said:As many as eight foreign banks are seeking Australian banking licences, including financiers from India and China as well as Spanish giant Santander...
But some are interested in taking a run at Australia's four largest banks through consumer banking. Foreign observers see Australia's largest banks as inefficient, lacking the latest technology and more focused on profits and high margins than customer service...
The Australian Prudential Regulation Authority is reviewing the applications and further applicants are expected later in 2011.