The Australian equivalent is Commonwealth Bank (CBA.AX) - they have a high-quality deposit franchise deriving from a program they ran called 'Dollarmites' which attracted school kids to open savings accounts.
CBA is one of the best banks in the world, in my view. Australia has an oligopoly and competition is relatively low. Trades at >2x book however.
viatris is interesting
Interesting comments on BOH.
The Australian equivalent is Commonwealth Bank (CBA.AX) - they have a high-quality deposit franchise deriving from a program they ran called 'Dollarmites' which attracted school kids to open savings accounts.
CBA is one of the best banks in the world, in my view. Australia has an oligopoly and competition is relatively low. Trades at >2x book however.
It's definitely worth pointing out the Australian housing bubble and various illegitimacies that support it. https://josephnoelwalker.com/housing-bubble-week-john-hempton/
Thanks, Commonwealth Bank was not on my radar.