Mixed FY09 earnings,better bad debt outlook tipped for ANZ, NAB
All eyes will be on asset quality, margins and surplus capital as signs that the bad debt cycle has peaked and margins are set to expand as interest rates rise, when the big banks begin to report their...
View ArticleBig four banks match RBA with 25bp rise to variable loans
Australia’s big four banks, which control about 85 per cent of the mortgage market, have wasted no time in matching the central bank’s interest rate rise with 25 basis point increases to variable home...
View ArticleAWB completes sale of Landmark Financial Services loan book
Grains marketer AWB Ltd has completed the sale of its Landmark Financial Services $2.3 billion loan book and $300 million debenture book to ANZ Banking Group Ltd. AWB managing director Gordon Davis...
View ArticleCBA, ANZ, St George in lock-step with RBA rate hike
Two of Australia’s biggest banks have announced 25 basis point interest rate increases on home loans, moving in lock-step with the Reserve Bank of Australia’s (RBA) rate hike. Commonwealth Bank (CBA)...
View ArticleLender brand attitudes in flux
By Jill Fraser for Lending Central Brand image and customer satisfaction are ongoing issues for providers according to market analyst Datamonitor. Several major brand realignments are currently taking...
View ArticleShortcuts sought in ANZ class action
The federal court has called on an international accounting firm to help it find the easiest path through a $50 million class action against the ANZ bank launched by more than 27,000 customers over...
View ArticleNAB move ‘nail in coffin’ for exit fees
By Michelle Draper A pledge by the National Australia Bank to pay the mortgage exit fees of its two biggest rivals could be the nail in the coffin for the charges, consumer group Choice says. In a bid...
View ArticleSwan welcomes banks "break-up"
By Gabrielle Dunlevy Federal Treasurer Wayne Swan has welcomed a "scrap" among the big four banks, saying it is a result of his government’s moves to increase competition in the sector. The National...
View ArticleCBA to NAB – breaking up is hard to do
By Alison Bell National Australia Bank’s "Dear John" letter to its rivals prompted a dismissive retort from ANZ’s boss, but the Commonwealth Bank wants NAB to know breaking up is hard to do. ANZ...
View ArticleBig Four downgraded
By Jill Fraser What are the implications of credit ratings agency Moody’s downgrading of Westpac, the CBA, ANZ and NAB from Aa1 to Aa2, the first major downgrade in the banking sector in over a decade?...
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