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).
-
Commonwealth backs City Pacific
-
25 October 2004 12:00amCommonwealth Bank has emerged as cornerstone lender for one of Australia's fastest-growing finance companies, with the bank providing a standby debt facility to Brisbane-based City Pacific. » read more »
-
Two fewer bidders for NAB's Irish operations
-
25 October 2004 12:00am
-
ASB model embraced by St George
-
25 October 2004 12:00amSome third tier managers as St George Bank are looking for work after the bank consolidated most of the responsibility for customer facing staff under executive Andrew Thorburn. » read more »
-
NAB finalises Australian management restructure
-
25 October 2004 12:00amNational Australia Bank on Friday also announced a further separation of product management and distribution responsibilities. » read more »
-
Virgin plots an insurance play
-
22 October 2004 12:00amVirgin Money will be retailing superannuation before the introduction of superannuation choice in July next year, with the company looking to seal a product deal with a local funds management specialist. » read more »
-
NAB takes the lead in seasonal discounting
-
22 October 2004 12:00amIt's almost like clockwork, the discounting campaign that rolls around in the home loan market each spring, and one that for some reason tends to be concentrated on the three year, fixed-interest home loan product. » read more »
-
Pepper waives interest premium
-
22 October 2004 12:00amThe non-conforming mortgage segment has emerged as an increasingly sharp arena of competition, with the two leaders, Liberty and Bluestone making long term changes to loan pricing designed to aid customer retention, and the challenger Pepper making a straightforward grab for new business. » read more »
-
Low docs underpin Interstar volume
-
22 October 2004 12:00amChallenger Financial Services Group's mortgage funding arm Interstar is maintaining a consistent proportion of low doc lending, even if the speed at which the lender is originating new business is tailing off. » read more »
-
Credit card uses bounces back in August
-
22 October 2004 12:00amMonthly data published by the Reserve Bank of Australia on the use of payments cards shows a reversal in the long running trend for spending on Eftpos cards to displace credit cards. » read more »
-
Visa revs up debit
-
21 October 2004 12:00amVisa International is planning a promotional campaign for Visa Debit next month, the first marketing push of substance for the brand in many years. » read more »
-
Offshore funding shock sufficient to wipe out bank's profit
-
21 October 2004 12:00amA sharp increase in borrowing costs would wipe out the reported profit of one New Zealand bank, though that bank would return to profitability in the following year, stress tests published by the Reserve Bank of New Zealand show. » read more »
