Impact of Royal Commission on Banking Sector and Australian Economy

Economics
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Introduction
 Banking: an important sector
 Provides secure system of payment
 Four largest and important retail banks
 CBA, Westpac, NAB and ANZ
 Differs from American system
 RBA regulates the payment system
 Analyzes the banking sector.
 Royal Commission misconduct in the Banking, Superannuation
and Financial Service industry

Banking industry background
 Competitive, sophisticated and profitable sector
 CBA ranks first in terms of riskless return: 18% return
 Westpac in fourth position : 11% return
 Four major banks
 Largest in terms of market capitalization
 Contribute to GDP and employment
 Deregulation in 1960
 Four pillar policy since 1990
 Mutual banks, retail banks and foreign banks