Euromoney said earlier in March that the Royal Commission into banking behaviour in Australia was all shouting, little substance. And here’s the thing about banks: they can tell the difference and exploit it accordingly.
On Thursday, CBA provided a “wealth management and mortgage broking businesses update”. The update was that the planned demerger and sale of those operations has been suspended.
And one can assume it has been suspended because the Royal Commission, to widespread surprise, has let banks off the hook.
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