The rising cost of lending, a soft housing market and increased regulatory costs resulting from the banking royal commission will offer little near-term upside. Retaining its wealth management business is a negative and it is likely to come under further regulatory constraint, which will mean a dilution in shareholder returns. Growing bad debt, potential government investigation and increased regulation will add to headwinds for the business in 2019. With no clear competitive advantage and increased competition from the likes of Uber Eats, shareholder growth is likely to moderate in 2019.
$24.90 $27.70 $49.12