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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Small NZ banks provide little competition
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21 October 2004 12:00amThe Reserve Bank of New Zealand's Financial Stability Report provides one stark statistic on the influence of the four dominant banks in that country's concentrated market. » read more »
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Fast growing finance companies targeted
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21 October 2004 12:00amThe New Zealand Herald highlights the analysis in the RBNZ review of the growth in lightly regulated finance companies in New Zealand. » read more »
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ASIC gives NAB yellow card
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21 October 2004 12:00amThe Australian Securities and Investments Commission, has shown a yellow card to the country's biggest financial services organisation over key internal systems and controls under its financial services licence. » read more »
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Bank profits turning haywire
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20 October 2004 12:00amThe reported or headline profits of most banks and many companies will be getting extra volatile from next year, as Australia's top companies adopt International Financial Reporting Standards. With the transition date of July 2005 now eight months or so away, companies are starting to talk in more detail about just how volatile profits might be. » read more »
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Property prices stirring once more
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20 October 2004 12:00amResidential property prices in Australia may be showing some signs of a revival, following declines estimated at between five per cent and 10 per cent over the course of the year. » read more »
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Victorian Libs look at funding options for ConnectEast
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20 October 2004 12:00amA lot of financiers and Liberal party heavyweights no doubt think its either absurd or empty rhetoric, but the Liberal opposition in Victoria seems to be taking seriously its pledge last week to renegotiate the contract signed by the state's Labor government for a 35 year concession with ConnectEast to build and operate the Scoresby motorway in Melbourne's eastern suburbs. » read more »
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NAB's CFO Michael Ullmer retains twin risk role
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20 October 2004 12:00amNational Australia Bank's new chief financial officer, Michael Ullmer, seems to be happy to recruit preferred executives from his former employer Commonwealth Bank. » read more »
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Foreign banks and credit unions best choice for home loans
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19 October 2004 12:00amA product analysis of the Australian mortgage market by consumer banking monitors Infochoice provides a fresh snapshot of the central product market of the domestic banking business. » read more »
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Early exit fees now common
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19 October 2004 12:00am
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CECS cleared by ACCC
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19 October 2004 12:00amIn the manoeuvring around control over and access to the Eftpos system, the incumbents have succeeded in securing endorsement from the Australian Competition and Consumer Commission for the rules and manual that govern the handling of ATM and Eftpos payments between banks and acquirers. » read more »
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Regional banks consider cheque processing options
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19 October 2004 12:00amRegional banks are debating the merits of outsourcing their cheque processing to the joint venture under development by three large banks, while also considering the merits of pooling their own cheque processes in joint venture that would look after small banks separately to the interests of the majors. » read more »
