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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Loans demand picks up in the SME market
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19 May 2005 12:00amBusiness customers in the slippery segment of "SME", whatever that means, have borrowing on their mind. » read more »
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Challengers make marginal gains in SME banking
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19 May 2005 12:00amThe market share of the top four banks within the SME banking segment declined slightly, to 66.9 per cent at April 2005, down from 67.5 per cent at October 2005. » read more »
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Investment banks work the SME market
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19 May 2005 12:00amInterestingly, 45 per cent of the SME's named a bank when asked for their "principal corporate transaction banker", and the big four banks earned only 14 of these percentage points. » read more »
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Commonwealth internet banking service poorly perceived in SME market
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19 May 2005 12:00amSMEs told East they were satisfied with their bank's internet banking services overall, but "integrated e-banking" recorded a neutral rating (neither satisfied nor dissatisfied), and the second most adverse ranking of any of the product categories surveyed by East. (Term foreign currency loans earns the most adverse customer satisfaction rating). » read more »
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Infrastructure finance underpins Macquarie's March 2005 profit
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18 May 2005 12:00amMacquarie doesn't publish the following data directly in its financial report, though you can derive the following segment profits from those details that are reported. » read more »
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Macquarie's cash box pays a high price for European directories
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17 May 2005 12:00amAnyone expecting Macquarie Bank's latest specialist investment fund, Macquarie Capital Alliance Group, to invest with imagination would be sorely disappointed with the sector, business and price paid by MCAG for the group's 36 per cent stake in Yellow Brick Road. Macquarie Bank group will be a co-investor in YBR. Macquarie will take an 18 per cent stake in the business. » read more »
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Devine's mortgage funder changes tack
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17 May 2005 12:00amNiche mortgage funder First Permanent is successfully diversifying its sources of business, with half of the highly geared home loans provided by the group now used to refinance existing homes, rather than new house and land packages sold by residential development group Devine. First Permanent is a subsidiary of Devine. » read more »
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Adelaide Bank tailors mortgage securitisation for self managed super funds
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17 May 2005 12:00amElsewhere in the mortgage funding sector, Adelaide Bank is pursuing a funding diversification strategy by repackaging its securitised home loans into a form suitable for marketing to the high end of the retail market. » read more »
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AWB ends its alliance with Rabobank
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16 May 2005 12:00amAWB Landmark last week announced it would terminate its banking alliance with global agribusiness financier Rabobank at the end of October. » read more »
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ING Direct hits the one million customer milestone
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16 May 2005 12:00amING Direct recorded a rare dip in profit in the March 2005 quarter in Australia, at least when measured in euros, but the Dutch-based bank achieved one milestone during the quarter, with more than one million customers on the books. » read more »
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Credit Line flat for GE Money
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16 May 2005 12:00amThe Financial Review today quotes GE Money's managing director in Australia. Tom Gentile, as saying that the integration of Australian Financial Investments Group, including Wizard Home Loans, into GE was about 65 per cent complete and was on track for completion in June. » read more »
