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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Edition 400
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10 March 2005 12:00am
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Infrastructure earnings take a step back at Westpac
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09 March 2005 12:00amWestpac yesterday said that it expected revenue from its infrastructure activities, through the bank's "specialised capital group", would decline by more than 15 per cent in 2005. Westpac said this was largely due to the loss of bonus fees relating the bank's previous investments in a couple of private equity funds almost 10 years ago. » read more »
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Divergent advice on internet banking
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09 March 2005 12:00amThe police, and to some extent the banking industries, either side of the Tasman Sea appear to be giving a different emphasis to the threat posed to banks and bank customers by internet scams such as "phishing." » read more »
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Banks start to tinker with two factor authentication
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09 March 2005 12:00amThe banking industry in Australia is well down the path toward agreeing to a standard that would inform the risk management by banks of internet banking services. » read more »
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ATM interchange reform on ice
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08 March 2005 12:00amReform of interchange fees paid between owners of automatic teller machines and the banks that issue the debit and credit card used in those machines has more or less ground to a halt. » read more »
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Westpac upbeat on earnings as growth stalls
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08 March 2005 12:00amWestpac Banking Corp published a detailed investor update yesterday which shows the bank's home loan market share in Australia continued to decline the December 2004 quarter. The bank said housing lending growth fell to six per cent, annualised, in the December quarter, down from growth of 12 per cent in the year to September 2004. The bank's rate of growth in home lending is less than half the overall rate of growth in this crucial segment. » read more »
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Credit quality improves at Westpac
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08 March 2005 12:00amThe credit cycle, and in particular the housing cycle and property cycle may be on the turn, but credit quality remains pretty much as good as it's ever been, at least at Westpac. » read more »
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Buy or sell? Don't ask HSBC
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08 March 2005 12:00amCould the days of the equity analysts' recommendation which has so hopelessly conflicted the world major brokers and investment banks since the days of the dot-com implosion be over? » read more »
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Business banks leave private equity to ANZ
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07 March 2005 12:00amA long running complaint over banks and the capital market in Australia is that equity finance is either unavailable, or available on unattractive terms, to a vast slab of entrepreneurs in what's often termed "the middle market". » read more »
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ANZ exit strategy based on equity for debt swap
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07 March 2005 12:00amOne difference in ANZ Bank's approach to direct equity investment is that rather than attract sequential rounds of equity and mezzanine funding to a growth company as a prelude to a trade sale or a listing on the stock exchange, the preferred exit strategy seems to be sell the bank's equity in the business back to its owners. » read more »
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Barry Fitzpatrick in for the long haul at Adelaide Bank
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07 March 2005 12:00amBarry Fitzpatrick, Barry Fitzpatrick at Adelaide Bank, may share Rupert Murdoch's philosophy on managing your own retirement: don't. » read more »
