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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NAB rethinks institutional banking strategy
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12 May 2005 12:00amNational yesterday portrayed its institutional banking business as kicking a few goals, especially in the early months of 2005, even as the banks pulls back from low yield lending in some international markets and consolidates its wholesale banking activities in east Asia. » read more »
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Profit growth lags asset growth at Bank of New Zealand
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12 May 2005 12:00amBank of New Zealand's second quarter profit dipped slightly as expenses grew faster than operating income. » read more »
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Clydesdale runs into strife over remote branch closures
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12 May 2005 12:00amNational Australia Bank isn't about to extend its promise about retaining bank branches where that branch is the last bank in any town to the group's operations in Scotland and England. » read more »
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Compliance projects a costly headache for NAB
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12 May 2005 12:00amThere's either a huge variation in how the major banks are accounting for the costs of their regulatory and compliance projects, or NAB has massive problems with its accounting, risk and management information systems. » read more »
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National cuts back in east Asia
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11 May 2005 12:00amNational Australia Bank will close its institutional banking business centres in Singapore, South Korea, Malaysia and Japan, and consolidate these businesses in the bank's Hong Kong office, The Australian reports today. » read more »
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NAB unsure on extent of fees error
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11 May 2005 12:00amNational Australia Bank said the cost of refunding bank account debit taxes and some bank fees to about 100,000 accounts would cost no more then $10 million. NAB wrongly charged the tax and fees on some business transaction accounts. » read more »
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Feds short-term funding needs rise in 2006
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11 May 2005 12:00amThe federal government reiterated the policy decision announced in the 2004 budget, that it would continue to borrow long term debt, through the sale of Treasury bonds, despite little underlying need for funding. » read more »
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$16bn seed capital for Future Fund
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11 May 2005 12:00amThe 2005 federal budget is short on detail on the document's primary macroeconomic initiative, the "Future Fund". » read more »
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US regulators take a second look at impact of Basel II
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11 May 2005 12:00amUS bank regulators have said they need more time to analyse the potential impact of new Basel II capital adequacy framework before publishing rules for its implementation in the US. » read more »
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S&P relaxed on concentration risk
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11 May 2005 12:00amStandard & Poor's yesterday's published a discussion on what it regards as overblown fears of "concentration risk" for investors in securitised pools of residential mortgages sold by Australian banks and other mortgage providers. » read more »
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CBA opens new fees controversy
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10 May 2005 12:00amCommonwealth Bank's steered its way, and potentially that of the wider banking industry, back into the media bad books with a public relations mess over new internet banking fees, an issue that's gathered media momentum over the last week or so. » read more »
