The low growth environment that has prevailed in the finance market for the past couple of years has been a godsend for banks working to restructure their balance sheets. Without it, lenders might have had to "prioritise" their lending.
Bankers on a panel at yesterday's Finsia Financial Services Conference in Sydney said the highest priority since the financial crisis has been to strengthen their balance sheets and make them sustainable.
"The challenge has been on the funding side," said Rob Whitfield, the chief executive of Westpac Institutional Bank.
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