Although Australian financial institutions had little exposure to US subprime assets, the global nature of the financial system meant Australia was unable to avoid the effects of what Australians call the global financial crisis. The lack of available credit following the crisis resulted in significant revenue falls and a market contraction. Locally, the Australian Government implemented several market stimuli campaigns.
As the financial markets continue to evolve, financial institutions are working to grow and maintain profits while adjusting to ever-changing regulations and the downturn’s effects on profitability and performance. Successful institutions will need to reassess their operating models and address the effects of competitive dynamics, evolving markets and increased expectations from cautious stakeholders.
We understand the specific needs, challenges and opportunities faced by different stakeholders across the sector. Our lawyers are experts at helping clients to take advantage of opportunities and protect their business interests.
