Original article by James Frost
The Australian Financial Review – Page: 16 : 2-Oct-18
Jonathan Mott of UBS has told clients that Australian banks’ profits are likely to come under pressure in the next several years as a result of the financial services royal commission. He says the risk of a credit crunch has been heightened following the release of the inquiry’s interim report. Mott adds that amongst other things, the final report is likely to recommend extending responsible lending obligations to small and medium enterprises and an overhaul of the way banks verify the expenses of borrowers.
UBS HOLDINGS PTY LTD, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY