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The international credit crisis will be “very good” for local banks, Justin Braitling of Australian Leaders Fund today told The Australian.
“Australian corporates, which have been very active in tapping the international syndicated debt markets, are struggling to raise funds on competitive terms,” he said.
As a result of the international credit drought, Braitling believes Australian corporates will move back to Australian banks for funding.
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He also said that the larger banks will be best placed to take advantage of the shift, considering their low levels of securitised funds.
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