I never do any survey about Australia banks industry, but today I just read one good article from Laura Santini. The article is about Crunch Bounces Around in Australia.

Anyway, here some of the hot contents that I quote from the website:

As the credit storm batters the banking industry in the U.S. and Europe, rumbles of thunder are being heard Down Under.

Australian banks are facing several challenges:
The global credit crunch has dried up interest in Australian securities, closing off access to once-plentiful financing from abroad. Corporate borrowers holding too much debt are starting to stumble, leaving lenders exposed to a higher risk of default.

The Result: That could spell bad news for Australia’s economy, which has been booming thanks to exports of pricier natural resources.

The Result: That could spell bad news for Australia’s economy, which has been booming thanks to exports of pricier natural resources.

And, even as the U.S. Federal Reserve pushes interest rates lower, Australia’s central bank has been raising rates in an attempt to fend off inflation.

The result:
Shares of Australian banks have been battered. The big risk is that banks take the market’s nervousness to heart and cut back on their lending. That could spell bad news for the country’s economy, which has been booming in the past few years thanks to exports of pricier natural resources.

What a good article isn’t it?