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| Awards for Excellence 2012 Regional Awards for Excellence 2012: Asia All regions and countries |
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| Asian winners by country Australia China Hong Kong India Indonesia Japan Korea Malaysia Mongolia Pakistan Philippines Singapore Sri Lanka Taiwan Thailand Vietnam |
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Best Bank: Commonwealth Bank of Australia |
| One only has to look at the price/earnings multiples of Australia’s big-four banks to see which the market thinks is best; Commonwealth Bank of Australia trades well above its three peers. "From a valuation perspective, it looks a bit expensive, with the lowest yield," says a leading fund manager. "But that’s because it’s the best quality of the four." CBA won last year partly for its revamp of its core retail franchise, and in that area of the business it continues to stand out, imposing good cost control, leadership in technology, and a nicely pitched balance between keeping margins and retaining market share. It’s not, though, a leader in institutional banking – that mantle would still go to Westpac. In April, chief executive Ian Narev announced a new strategic direction for the bank, and correcting that institutional lag will clearly be a part of it, with an emphasis on technology advantages, more specialized industry coverage and further investment. | |