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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Shrinking NZ housing market behind price war
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19 November 2004 12:00am
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HomeSide takes lead in low doc market
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18 November 2004 12:00amNational Australia Bank has adopted the most aggressive pricing of any lender in the "low doc" segment of the home loan market, with the introduction from the beginning of this week of low doc loans across the entire product range of its HomeSide home loan brand. HomeSide is the brand used by National to sell home loans through mortgage brokers, and the products sold through this channel may vary from those sold through the bank's branded branch network. » read more »
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BNZ matched but not beaten in home loan market
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18 November 2004 12:00am
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Interstar's New Zealand loans already in arrears
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18 November 2004 12:00amInterstar is finding as much demand for low doc loans in New Zealand as in Australia, with almost half the loans in Interstar's first pool of New Zealand dollar loans advanced on the basis of either reduced or limited document verification. » read more »
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St George renews Gail Kelly's contract
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18 November 2004 12:00amSt George Bank said yesterday that it entered into a new contract with managing director Gail Kelly. The new contract has no fixed term, with the board required to give her 12 months notice if they want to fire her, and Kelly required to give six months notice is she wants to quit. » read more »
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IT underspend may derail sale of NAB's Irish banks
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17 November 2004 12:00amHBOS have pulled out of the bidding for National Australia Bank's two Irish banks, according to reports in yesterdays British and Irish newspapers. » read more »
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Macquarie's mortgage business fires
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17 November 2004 12:00amMacquarie Bank may be the fastest growing home loan provider in Australia, with the bank increasing the level of home loans under management by 14 per cent to $13.6 billion in the year to September 2004, or an annualised rate of growth of close to 28 per cent. » read more »
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RBA frets as lenders resist the turn in the housing cycle
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17 November 2004 12:00amReserve Bank of Australia governor Ian Macfarlane is coordinating grizzling about the standards of housing lending with Australian Prudential Regulation Authority commissioner John Laker. » read more »
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Macquarie Bank back on track
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17 November 2004 12:00amMacquarie Bank has resumed a smart rate of profit growth, following a more subdued rate of growth in the March 2004 quarter, with the bank reporting: » read more »
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NZ legislates for minimum bank tax
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17 November 2004 12:00amNew Zealand's government yesterday introduced the legislation required to introduce "thin capitalisation" rules over foreign-owned banks. » read more »
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Payments rather than credit the future of business banking
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17 November 2004 12:00amSupplier finance, succession planning in family owned businesses and online transaction banking are some of the growth opportunities in business banking identified at East & Partners business banking conference in Sydney last week. » read more »
