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Author: harmy Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 461093  
Subject: Australian Banks Date: 2/11/2013 4:03 PM
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Interesting little item I came across recently.
There are four big Australian banks. The investor shareholders who hold the majority shareholding in one bank also hold the majority shareholding in the other three banks. Therefore all the majority shareholders have a vested interest in avoiding competition between all four banks. Which accounts for the IMF announcement that the Australian banks were the most profitable in the world.

Regards
Harmy
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