Although the storm has cleared, the aftermath of the global financial crisis is still affecting the Finance subdivision in Australia. Over the five years through 2015-16, revenue is expected to decline at a compound annual rate of 3.8% to reach $203.0 billion. The five-year period has been quite volatile for the subdivision. A huge decline in lending activity following the crisis exerted pressure on revenue. This was followed by the RBA cutting the official cash rate to stimulate the economy. Banking revenue fell, bringing subdivision revenue down as well, since national banks account for just over 71.0% of subdivision revenue.
The Finance subdivision covers firms providing financial services (excluding insurance) in Australia. The most significant industries within the Finance subdivision are building societies, credit unions, domestic banks and foreign banks.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.