NATIONAL Australia Bank reckons ANZ is playing russian roulette with shareholders’ money by chasing credit-card business at the tail end of an economic boom.
ANZ thinks NAB is making excuses for being outflanked by a more nimble rival.
Two of Australia’s leading lenders are locked in a verbal stoush. The fortune of 638,000 shareholders hinges on which one is right.
Worth a combined $96 billion, NAB and ANZ are employing opposing strategies in the credit-card market.
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