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| Author: | Lloyd, S. |
| Title: | No more milk and honey. |
| Journal: | Banker
1987 : NOV, VOL. 137:741, p. 30 |
| Index terms: | FOREIGN BANKS AUSTRALIA DEREGULATION |
| Language: | eng |
| Abstract: | The Labor Government of Australia decided to permit the entry of 16 foreign banks in early 1985. But contrary to expectations, Australia was far from being the Promised Land. The increased competition has not seriously diminished the quasi-monopoly power of the Big Four. Their profit rates are still quite high, although lower than before entry. Despite their past monopoly power, they were able to fight back, and did not give up their positions. The only new entrants who were successful (like Bankers Trust) did not start retail operations. |
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