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Latest news and insights on banking and finance in Australia and New Zealand, as delivered in the daily 7am Banking Day email news service (subscribe or take out a free trial).

Profits a drag on credit quality
03 March 2015 6:56am
The external operating environment for banks continues to be uneasy, with company profits taking a turn for the worse. » read more »
Aged care the hotspot in the equity release market
03 March 2015 6:56am
Home equity release specialist Australian Seniors Finance has launched an aged care loan (a type of reverse mortgage), designed to cater to retirees who want to keep the family home when they move into aged care. » read more »
Pacific bank achieves solid results
03 March 2015 6:55am
The largest Pacific-owned bank has not let the slowdown of the Papua New Guinea economy hinder its financials, achieving solid results for the year to December 2014. » read more »
FATF calls for more co-ordinated action against terrorism financing
03 March 2015 6:54am
The emergence of Islamic State, and its use of new funding techniques, calls for a renewed counter-terrorism financing effort. » read more »
Banks not reaching high net worth investors
03 March 2015 6:54am
Fewer than half of Australians with investable assets of A$1 million or more visited an investment adviser in 2014. » read more »
Correction: rate cuts
03 March 2015 6:53am
A story in Banking Day on Monday, Lenders yet to cut rates, contained several errors. It said that Homeloans, State Custodians and Adelaide Bank had not issued notifications of rate cuts following the reduction in the cash rate last month. In fact, all had done so and all had cut their variable rates by 25 basis points.
» read more »
Briefs: CBA's Shortt invited to the top table, Japan's Resona Holdings repays government debt, India bolsters bank reserves and more
03 March 2015 6:52am
Commonwealth Bank' chief marketing officer, Vittoria Shortt, has been promoted to the role of group executive, marketing and strategy.
» read more »
Banks too circumspect for Treasury chief
02 March 2015 7:15am
Cheap credit will assist Australia's economic restructuring, John Fraser said on Friday, in his first speech as secretary of the Treasury.

» read more »
BOQ's cloud computing experiment fails to clear hurdles
02 March 2015 7:14am
The Bank of Queensland's three-year offshore cloud computing experiment is over, costing the bank A$10 million. » read more »
Yellow Brick Road bulks up loan book, revenues and losses
02 March 2015 7:14am
Yellow Brick Road bulked up during the six months to December, with the acquisitions of Resi Mortgage Corp and Vow Financial adding substantially to revenues and loans under administration. But costs grew faster and the company reported a bigger loss, compared with the previous corresponding period. » read more »
NZ's TSB hit by coal slump
02 March 2015 7:13am
TSB Bank has written off all of its NZ$53.9 million in loans to state-owned coal miner Solid Energy after a slump in coal export prices, carving 74 per cent off the New Zealand regional lender's nine-month net profit. » read more »
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