Asian Awards for Excellence 2012: By country
|Awards for Excellence 2012
Regional Awards for Excellence 2012: Asia
All regions and countries
|Asian winners by country
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.