Australia: best domestic bank and trading houses
Asiamoney reveals its annual domestic bank and brokerage awards for Australia over the past year. Westpac shines for a conservative lending strategy and proactive fund-raising, while Macquarie retains its stranglehold on the equity market. Westpac also fends off competition to take the best debt house award in narrow market volumes.
Best domestic bank
Westpac Banking Corp.
It’s easy to discount two of Australia’s big four banks from this award.
ANZ Bank’s expansion into Asia may eventually yield strong results, but its exposure to heavily leveraged corporates and margin lending cost it millions and raised questions about its risk management.
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