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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MBNA sells to Bank of America
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01 July 2005 12:00amBank of America overnight announced an agreement to buy MBNA, the largest of the independent credit card issuers in the US. » read more »
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Banks win increased share of home loan market
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01 July 2005 12:00amThe slow down in the rate of growth in housing lending in Australia reported by the Reserve Bank of Australia data is not as evident in the parallel data published by the Australian Prudential Regulation Authority. » read more »
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Adelaide, ING and Members Equity shine in home loan market
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01 July 2005 12:00amThree banks are continuing to gain market share at a rapid rate: Adelaide, ING and Members Equity. Analysis of APRA's monthly series on bank assets shows that: » read more »
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BOQ asks RePS holders to wear a lower rate
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01 July 2005 12:00amBank of Queensland will ask investors in one series of preference shares to voluntarily accept a lower interest rate on the shares, on the grounds that the rate the bank would otherwise pay is "out of step with the market uncommercial". » read more »
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Keycorp still promising internet solutions
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01 July 2005 12:00amBruce Thompson, chief executive of Keycorp, used the Australian Stock Exchange's Corporate File service to elaborate on the company's agreement to sell the Eftpos transaction network business back to Telstra. » read more »
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Notice: Future of Money Forum
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01 July 2005 12:00amThe Future of Money Forum is a community of financial services executives that meet regularly to debate the issues that will shape their future. » read more »
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Morgan pushes the three pillars option
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30 June 2005 12:00amDavid Morgan, managing director of Westpac Banking Corp, yesterday proposed that a merger of two of Australia's four largest banks, leaving Australia and New Zealand with three large banks, was a viable option under competition policy. » read more »
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Regional assets sales may facilitate a big bank merger
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30 June 2005 12:00amQuizzed at a media "doorstop" following his speech, David Morgan said if conventional competition policy tests were applied to big banks, "my own judgement would be that under those policies probably we would see at least one bank merger and four most likely going into three. Three going into two I think puts greater strain on that existing competition policy," he said. » read more »
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Westpac open to offers in the past
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30 June 2005 12:00amDavid Morgan is the third bank chief executive this month to agitate for the removal of the federal government's four pillars policy, and comes after a long lull in which banks have put up with what's largely a settled policy. » read more »
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ANZ co-brand supports Diners Club
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30 June 2005 12:00amDiners Club singled out the co-branded ANZ Diners Club card as the factor behind a 20 per cent increase in turnover and a 40 per cent increase in pre-tax profit for the year to December 2004. » read more »
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AIBF and SIA members endorse merger
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30 June 2005 12:00amThe amalgamation of the Australasian Institute of Banking and Finance and the Securities Institute of Australia has won the endorsement of members. » read more »
