Our ASX banks have long been thought of as the crown jewels of the ASX. But the last couple of years have definitely put a dent in said crown.
Even just today, Westpac Banking Corp (ASX: WBC) has been accused of some additional dodgy conduct – that's on top of what was revealed at last year's Royal Commission.
Rather than dealing with a growing pile of fines and regulations as a potential Westpac shareholder, I'm far more interested in these 2 ASX growth shares.
Zip Co Ltd (ASX: Z1P)
Zip shares have come off the boil recently, falling from highs of nearly $6 last month to today's price of $3.73 (at the time of writing). Still, this might be a good entry price for this BN-PL underdog. Zip has done a fantastic job of quietly building itself into a formidable rival to Afterpay Touch Group Ltd (ASX: APT).
It's also recently partnered up with Amazon Australia's online marketplace – and if that's not a lucrative deal I don't know what is. Thus, I think at current prices, Zip is looking attractive for a long-term growth play.
Xero Limited (ASX: XRO)
Xero is an online provider of its flagship accounting/business software, which the company markets as simple and 'beautiful'. Investors absolutely love this company, as its recurring/subscription revenue model allows for easy scaling and a clear path to profitability.
Combine this with rapid subscriber growth and incredibly high customer stickiness and we have a phenomenal growth stock, which had seen YTD share price gains of over 85%. XRO shares do look expensive today at $77.95, but sometimes the market places a premium on quality, which I think we can see in today's prices.
Foolish takeaway
These 2 ASX growth shares are some of the best quality ASX growth stocks on the market today. I like the Zip share price a little better today, but from a business model perspective, Xero wins hands-down.
