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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Home loan sales flag
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09 November 2004 12:00amHome lending emerged as the weakest link within Westpac over the last six months, with growth in mortgages under management in Australia of five per cent to $92 billion at September 2004, from $88 billion at March 2004, and up by 12 per cent from $82 billion at September 2003. » read more »
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Card momentum stalls
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09 November 2004 12:00amWithin the consumer lending and credit card business in Australia, credit card balances increased by three per cent over the half year to $5.2 billion at September 2004, and increased by 14 per cent over the full year. » read more »
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Business banking doubles system growth
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09 November 2004 12:00amWestpac's extended effort to revive its share of business banking paid off over the last year, and helped the bank record stronger growth in business and corporate lending over the last year compared with growth in housing lending. Westpac said this was the first time in many years that business banking loan growth exceeded consumer banking loan growth. » read more »
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Institutional bank contribution up after bad debt write-backs
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09 November 2004 12:00amA 32 per cent increase in expenses offset much of a 20 per cent improvement in operating income to leave Westpac institutional bank's cash earnings up 14 per cent at $256 million for the half year compared to $225 million for the first half. Over the full year, WIB's cash earnings increased by 25 per cent to $481 million. » read more »
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Cost to in income ratio down everywhere except institutional banking
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09 November 2004 12:00am
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Epic almost over
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09 November 2004 12:00am
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Bonuses linked to the share price rather than profits at Bank of Queensland
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08 November 2004 12:00amThe board of the Bank of Queensland has decided to separate bonus arrangements for senior management from the bank's reported profit, and instead proposes to indirectly tie those bonuses to the bank's share price, through an indirect mechanism that would relate management bonus payments to growth in earnings per share. » read more »
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Adelaide Bank bucks the trend in the mortgage market
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08 November 2004 12:00am
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Which new bank reform benefits exceed plan
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08 November 2004 12:00amIn contrast to Adelaide Bank, Commonwealth Bank did not give much away at the bank's annual meeting on Friday. Chair John Ralph and managing director David Murray said that: » read more »
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Westpac narrows home loan price premium
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08 November 2004 12:00amNew Zealand's banks are taking their time responding to the rise in the office cash rate almost two weeks ago. » read more »
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Greg Baker returns to ATM market through Customers
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05 November 2004 12:00amFormer Cashcard managing director Greg Baker will make a return to the payments industry, with an agreement for Baker to become managing director of payments sector aspirant Customers Limited. » read more »
