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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Visa comes clean on cards at risk
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22 June 2005 12:00amA flurry of media activity over the last couple of days inspired the progressive theft by hackers of around 40 million credit card numbers from CardSystems, a US-based card processor, has flushed out more details than credit card associations and banks would normally want to reveal. » read more »
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Expensing share options costs ANZ $50m
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22 June 2005 12:00amANZ Bank said it estimated the impact to earnings from expensing options under International Financial Reporting Standards at "approximately $50 million per year", or equal to less than two per cent cash earnings, the Financial Review reports. » read more »
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Norris clarifies CBA's earnings targets
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21 June 2005 12:00amCommonwealth Bank's incoming chief executive Ralph Norris told the Sydney Morning Herald in an interview that, "I never said that I vowed double-digit growth. I said my objective would be double-digit growth, but I think all objectives should have a degree of stretch and aspiration about them. We need to be aiming for CBA to grow a little bit faster than the market." » read more »
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Arrears clock up at InterstarNC
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21 June 2005 12:00amChallenger's wholesale mortgage financier Interstar is picking up steam in the non-conforming segment of the market, with the lender providing four loans out of five as low documentation loans. » read more »
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BOQ bring home loan arrears under control
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21 June 2005 12:00amBank of Queensland appears to have gotten on top of the home loan arrears problems associated with its implementation of its new core banking system over the last 18 months. » read more »
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Crage tries again to take Hire Intelligence private
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21 June 2005 12:00amTom Crage, the managing director of short-term information technology rental group hire Intelligence International, yesterday lobbed his second offer in 18 months to take the company private. » read more »
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Arrears kick on low doc loans
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17 June 2005 12:00amHome loan borrowers who "self certified" their income and their ability to repay are more than twice as likely to be behind on their home loan payments as borrowers who supplied payslips and tax returns to their lender when seeking a loan. » read more »
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Low doc loan a minor share of mortgage market
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17 June 2005 12:00amOne persistent controversy revolves around the significance of "low doc" loans as a distinct segment within the home loan market. » read more »
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Card purchase patterns shift strongly to debit
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17 June 2005 12:00amThe latest data on consumer and business use of credit cards suggests that card holders are well on top of the credit card debts, with favourable trends in measures on measures such as cash outs and cash advances. » read more »
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CBA takes the retail path
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14 June 2005 12:00amTwo themes seem to explain Commonwealth Bank's selection of Ralph Norris as managing director. » read more »
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Norris seeks release from Air New Zealand contract
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14 June 2005 12:00am
