Back into the community

The average payout ratio is 70 per cent, 70 per cent of the $21 billion [profit the big four banks make] goes back into the community. There is a good story there.

– National Australia Bank chief executive Cameron Clyne to the Australian Financial Review, November 22, 2010 [Matthew Drummond: “Clyne turns on peers over banks row”]

It’s surely a sign of the regression of political discourse when a bank chief making a play for ‘the nice guy of banking’ title thinks the size of dividend payouts makes a good case for profits.

Published in: on 22 November, 2010 at 8:11 am  Leave a Comment  

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