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National Australia Bank (NAB) v Westpac Bank (WBC)

The performance differential between NAB and WBC has stretched noticeably over recent months and especially since Novembers disappointing full year result – almost overnight WBC became the ugly duckling of the “Big 4 Banks”. Australia’s oldest bank  may have seen their margins contract but the action of the share price is starting to feel overdone and some interesting risk / reward is emerging – another $1 move in the spread and MM will be considering switching from NAB to WBC.

WBC
MM is considering switching from NAB to WBC into further underperformance by WBC
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National Australia Bank (NAB) v Westpac Bank (WBC)
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