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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Bendigo massages capital and prioritises EPS growth
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15 February 2005 12:00amBendigo Bank will seek a more complex capital mix to support its business, with the bank making plans to sell some hybrid securities (which would still qualify as tier one capital), buy back some ordinary shares, and also remove the discount on the issues of shares under the dividend reinvestment plan. » read more »
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Community bank profit doubles
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15 February 2005 12:00amBendigo provided the first ever breakdown of the profit contribution to the group from its community banking business. » read more »
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Tokens in demand for internet banking
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15 February 2005 12:00amDual factor or secondary authentication is a technique that some bank critics, and a few customers, consider essential to improve the security of internet banking. For customers the additional authentication may increase their confidence in the systems, and for banks it may reduce the long term costs of "phishing" and other internet banking scams, for which the banks refund the stolen funds even if their contracts with their customers don't really require it. » read more »
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St George and Suncorp review mortgage insurance captives
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15 February 2005 12:00amSt George Bank and Suncorp may have to review the merits of the continued domicile of their captive lenders mortgage insurance subsidiaries in Singapore rather than in Australia. » read more »
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ANZ business banking good in parts
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15 February 2005 12:00amANZ fleshed out a little more detail of its business banking performance for the first four months of 2004/05 at yesterday's earnings guidance briefing to analysts. » read more »
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McFarlane hops into BNZ and BankWest
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15 February 2005 12:00amIn the ANZ investor briefing yesterday, ANZ chief executive John McFarlane said that Bank of New Zealand's mortgage discounting late last year not that he named BNZ secured 30 basis points in home loan market share for the National Australia Bank subsidiary, and was profitless growth. » read more »
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Petrol discounts fuel credit union home loans
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15 February 2005 12:00amNotional discounts on petrol appears to help sell groceries, so perhaps a whopping great, but still notional, discount on petrol will help sell home loans. » read more »
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Mortgage war flattens ANZ National profit
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14 February 2005 12:00amANZ Bank published a market update this morning, with the two page media release pretty light on for detais update. The investor briefing at 10 am might provide a few more insights. The key points in the update are: » read more »
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MasterCard markets debit product at banks
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14 February 2005 12:00amMasterCard "anticipates introducing its first debit cards in Australia in coming weeks", according to a column in today's Financial Review. Two banks plan to introduce the MasterCard debit card, though the newspaper does not name the two banks. » read more »
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Net banking growth estimates hit and MISC
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14 February 2005 12:00amA couple of newspapers, including The Australian, report findings of the Market Intelligence Strategy Centre that internet banking transactions by bank users in Australia increased by 130 per cent in the September 2004 quarter over the same quarter in 2002. MISC estimate that bank customers made 668 million net transactions in the year to September 2004, compared with 543 million personal cheque transactions. » read more »
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GE Capital drops credit card transfer rate to zero
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14 February 2005 12:00am
