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COVID-19 set to rear its head for an early impact assessment as three of Australasia's big four banking groups report their interim financial results

COVID-19 set to rear its head for an early impact assessment as three of Australasia's big four banking groups report their interim financial results

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3 Comments

Surely there should be minimal impact after just 1 month

One bad year after nine good ones or thereabouts aka the business cycle. This is the opportunity for banks to write-off as much bad debt as possible. Everyone expects it to be a sh1t year so better to lay down the seeds for the nine big bonus years to come.

OZ/NZ are duffrunt, the regulated F.I.RE economy by respective govt. are all secured by overseas single market
Unlike the US, NZ/OZ have robust bail out mechanism, here's interesting links to watch/read during lock down:
https://watchdocumentaries.com/inside-job/
https://www.scoop.co.nz/stories/HL1507/S00101/the-fire-economy-new-zeala...
https://tinyzonetv.to/watch-movie/watch-the-china-hustle-2018-free-59408...
https://www.youtube.com/watch?v=MGrBCtOt4Qs