Foreign Banks Flex Muscles in Australia as Locals Reel From Scandals

Foreign Banks Flex Muscles in Australia as Locals Reel From Scandals
The logo of Barclays is seen on the top of one of its branch in Madrid, Spain on March 22, 2016. Sergio Perez/Reuters
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HONG KONG/SYDNEY—Foreign banks are circling Australia once more as they bet on resources and infrastructure investment gathering pace at a time when local banks are distracted by a government inquiry following a string of scandals.

Some, like Barclays, are plotting a return to the market, which holds some $3.5 trillion in banking assets and whose banks are among the most profitable in the world, just two years after an abrupt exit.