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).
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Axes falls on brand managers at CBA
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22 July 2005 12:00amThe Australian reports that Commonwealth Bank has assigned more advertising work to the STW Communications group, the agency linked to John Singleton. » read more »
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Credit card cash advances kick in May
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22 July 2005 12:00am
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GE Commercial grows at twice system
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21 July 2005 12:00amGE Commercial Finance is growing its business in Australia at twice the rate of business credit growth in general; the rate of growth in the company's profits in Australia is accelerating, and GE's lending losses are pretty small. » read more »
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Growth eases in corporate finance
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21 July 2005 12:00amOne difference Steve Sargent pushed in his interview this week was the type of risks GE Commercial was seeking to take. In many ways these are classic finance company as opposed to commercial bank risks. » read more »
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GE plans its exit strategies
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21 July 2005 12:00amA related theme Sargent promotes is GE's confidence that it can manage its way out of trouble. » read more »
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GE a costly source of finance
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21 July 2005 12:00am"Understanding" is a favoured theme of Steve Sargent when talking about the GE Commercial business. » read more »
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Loan losses contained at GE
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21 July 2005 12:00amAsked to comment on a theme raised in this newsletter last week that GE Commercial was one of two lenders (along with ANZ Bank) that cropped up disproportionately as creditors to the above average number of companies in trouble in early 2005 Steve Sargent argued this reflected the financier's niche in the lending market. » read more »
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Resources demand firing
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21 July 2005 12:00amIn a broader response to the themes raised about credit quality, Sargent said: "If you look at insolvencies in [Australia] they run at 800 to 1200 a month, and that trend has remained very flat, it's been flat for the last two or three years. There's no negative trend." » read more »
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Demand tailors off for pricey consumer goods
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21 July 2005 12:00am
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Visa wins one over MasterCard
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21 July 2005 12:00amThe Reserve Bank of Australia is undertaking more and more micro regulation of aspects of the consumer payments system operated by banks and their worldwide card associations. » read more »
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Banks bend to Reserve over payments
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21 July 2005 12:00amThe RBA's proposals to change the calculation of credit card fees are only one item from a busy agenda for the Payments System Board at its last meeting. The PSB yesterday published details of four more reforms: one involuntary, with the other three changes volunteered by the affected companies under the threat of RBA regulation. » read more »
