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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Heritage winds back in mortgage market
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31 January 2005 12:00amHeritage Building Society changed tack during the second half of the 2004 calendar year, with the rate of growth in the bank's assets under management falling below system growth rates, and well below the rates of growth in business recorded during the boom in 2002 and 2003. » read more »
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Low doc loan estimates slippery
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31 January 2005 12:00amLow documentation lending is a fast growing segment of the home loan market in Australia, but how large this segment is and how fast it is growing remains pretty unclear. » read more »
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Commonwealth Bank shuffles retail chiefs
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31 January 2005 12:00amCommonwealth Bank has unified management responsibility for mortgages with the remainder of consumer credit, in the wake of the decision by the head of cards and consumer finance, Stephen Morrow, to take time out from the industry. » read more »
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Pepper PLAN's commission sweetener
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25 January 2005 12:00amNon-conforming lender Pepper Home Loans will sweeten the up-front commission paid to select introducers, with the commission to increase to 1.9 per cent from 1.5 per cent with effect from the beginning of February. » read more »
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Bendigo coy on community bank returns
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25 January 2005 12:00amBendigo Bank doesn't publish any detailed trading information on its community bank network, but rather bundles the results with the overall performance of the retail bank, and just highlights a few aggregate numbers. Those that suit the publicity agenda include: » read more »
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A window into Bendigo's community banks
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25 January 2005 12:00amThis newsletter is a long standing sceptic of the business case from the point of view of investors in the franchises of the "community bank" network being rolled out by Bendigo Bank, usually to much acclaim. » read more »
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Warburton pays steady dividend
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25 January 2005 12:00amWarburton Community Financial Services Limited operates one of the first community bank branches opened by Bendigo Bank; is making a substantial profit and paying steady dividends. » read more »
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Lang Lang targets suburban growth corridor
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25 January 2005 12:00amCommunity Financial Services Victoria Limited was another of the earlybirds in the Bendigo Bank franchise network. Initially opening in Lang Lang in South Gippsland in Victoria, this company now operates franchised bank branches in four more localities: Pearcedale, Koo Wee Rup and the newest branch in Narre Warren South, on Melbourne's fast growing south eastern corridor adjacent to the Princes Freeway. » read more »
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Bendigo rediscovers Logan City
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25 January 2005 12:00amLogan Community Financial Services, based in Brisbane's southern suburbs, is a variant on the Bendigo Bank community bank franchise model. » read more »
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Doncaster East misses first year targets
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25 January 2005 12:00amThe Doncaster East Bendigo Bank franchise opened in March 2003, in one of those increasingly frequent locations for community banks where there is no shortage of accessible bank branches owned by other banks, above average wealth and income, and a determination by some locals to maintain the disdain for other banks by providing a helping hand to Bendigo. » read more »
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Tiny Tongala branch breaks even
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25 January 2005 12:00amTongala and District Financial Services Limited operates one branch on a farming town midway between Shepparton and Echuca in northern Victoria. This is the smallest of the community banks to have a listing on the BSX, with a "balanced book" according to its annual report with approximately $12 million in lending and $14 million in deposits. » read more »
