On the back of a pretty good first half profit result for ANZ bank has seen it, CBA and WBC make fresh record price highs today and the combined market capitalisation of the four major Australian banks (ANZ, CBA, NAB, WBC) in US dollar terms is now $403.25B.
- That is equal to the world’s largest public company Apple, who is capped at $403.7B.
- That is larger than the world’s second-largest public company Exxon Mobil, who is capped at $395.2B.
- That is larger than the combined capitalisation of Bank of America, Citigroup, Morgan Stanley and Goldman Sachs, who are on net capped at $389.7B.
- That is equal to the capitalisation of Banco Santander, Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, Royal Bank of Scotland and UBS, who are on net capped at $404.6B US dollar terms).
So what’s the bet that Wayne Swan will now want to rip more taxation from our highly successful banking sector? I mean, it’s not like he’s gone after other sectors of the market before, right?