Andrew Irvine

speaker

559 appearances 4 recordings 1 series first heard Dec 2024 last heard May 2025

Andrew Irvine’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Ask Andrew: On NAB Earnings, the RBA, AI and the Economy · 23 May 2025 podcast

It was a government-owned bank and was privatized.

And at that time, a significant number of retail shareholders uh took positions in CBA.

And so their share roster is a little bit different than everyone else's.

And they have more retail mums and dads holding that stock than the other banks would.

And because of the profit that they've had over that long period of time, they're not selling it because it would uh incur a large tax liability and they'd rather get the fully frank dividends.

And so what that means is that institutions who want to own CBA stock have to buy us, they only can play in a s smaller proportion of the roster.

You've got, you know, ETFs that are passives that have to hold the

index.

And so that demand for the stock, uh, with a less of the stock actually on the you know free float, if you will, because people are holding it on uh from the retail portion of their roster, means that it's driving the share price higher.

Uh I think that's been the case for a long time.

I I don't want to say what's going to happen in the future.

I'm not a bank analyst, uh but it's a it's a good bank and we're here

to want to try and uh you know play our own game but deliver outperformance over a long period of time as they have.

Oh that's not what I'm saying.

I I don't uh judge what the price earnings uh that shareholders are prepared to pay for my stock.

I want to run the bank as best I can uh and drive uh growth um and shareholder value.

I'll do that and others can judge

Um you know, we're an uh open economy.

Uh and so if there are uh foreign uh providers of capital that are looking to pull uh on the margin capital from the US, Australia's a good place to put it.

You know, Europe's not got as much growth.

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