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1.    Why is an independent banking commission inquiry into banking misconduct required?   Discuss three pros and three cons of having such inquiry into the finance industry.  2.    Are the incidents reported by MRCB in the initial inquiries in breach of: a)    Australian financial regulations, b)    ethics, and/or  c)    corporate social responsibility?  Explain why.  3.    Wh ...

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Tags: Australia Melbourne Management Management University of Melbourne Management 

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The Monash Retail Commercial Bank (MRCB) was created in 1923 to meet the financial needs of the returned soldiers that had served in World War I. From that small historic base, MRCB had developed into a strong, ASX listed, retail and commercial bank dedicated to serving the financial needs of the people and businesses in Victoria. It later added a retail stockbroking firm to provide financial services and investment advice to its clients and then a life insurance company (as life policies once afforded important tax advantages) as subsidiaries. Others, like the Monash Investment Bank, the Monash Funds Management Company and Monash Financial Planning, were subsequently established. With technology, MRCB was an early mover in on-line banking to remain competitive.
 
Today, the Monash Retail Commercial Bank remains a hypothetical medium size, mainly Victorian based financial organisation with a strong market presence particularly among older Australians as well as in provincial towns and rural areas. Its representation is similar to that of the Bendigo Bank within Victoria (some 200 branches) but MRCB utilises specialised bank staffed sub-branches whereas Bendigo uses community bank branches. While MRCB’s $1.5 billion market capitalisation is much smaller than Bendigo and Adelaide, its financial ratios, asset mix and funding base are nevertheless very similar.

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