The battle for deposits will dominate Australia’s banking agenda for years, says National Australia Bank finance director Mark Joiner.
Savers would benefit as banks chased more reliable funds, Mr Joiner said. The banks are bolstering deposit books to meet new rules, being rolled out globally, that are intended to fortify their balance sheets.
“I think the competition for deposits is here for five years as everyone gets positioned for the net stable funding ratio changes,” Mr Joiner said.
Source: Herald Sun