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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Kiwibank in business
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03 September 2004 12:00amKiwibank recorded its third consecutive quarter in the black for the June 2004 quarter, and has doubled assets in a year. » read more »
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Midware buys New Loan
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03 September 2004 12:00amMid-sized mortgage brokers with a few hundred million under management may not have all that much value, if the purchase of New Loan by listed small cap technology company Midware is anything to go by. » read more »
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Finance company profits best in a decade
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03 September 2004 12:00amKPMG's annual or semi-annual compendium of the earnings and assets of many deposit taking and lending sectors is usually a handy guide to the state of the industry, but the firm's annual finance company survey isn't nearly so handy. Apart from being compiled the best part of a year after most of the 11 companies included filed their financial results, that's the chief problem: the survey extends to only 11 companies. » read more »
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Yesterday's edition
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03 September 2004 12:00amSome subscribers might have received a messy version of yesterday's edition, though all the content would have been there to read. Apologies to any readers affected by the production problem. » read more »
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As the $20 note demand declines, the $200 note can't be far away
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02 September 2004 12:00amAustralia might not have that much inflation any more, but the country might have enough of it for banks to take that step that will make inflation haters despair, and introduce a new high denomination banknote to cater for demand. The retirement of the lowest denomination banknote must be on the horizon. » read more »
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Reserve banking profits decline
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02 September 2004 12:00amThe profit recorded by the Reserve Bank of Australia's business operations in 2004 declined: » read more »
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RBA underlying earnings decline
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02 September 2004 12:00amA decision to rebuild international reserves over the last financial year led to a decline in accounting profits and underlying earnings the Reserve Bank of Australian over the last year. » read more »
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Costello smooths RBA dividend
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02 September 2004 12:00amFor a second year in a row, the federal government's decided to smooth out the pattern of dividend payments from the Reserve Bank to the federal budget. The RBA's annual report shows that the treasurer, Peter Costello, had elected to defer $320 million in earnings otherwise payable to the budget from the RBA until the 2006 financial year. » read more »
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Housing credit growth eases
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01 September 2004 12:00amThe rate of growth in credit in Australia eased further in July over June, though the annual rate of growth is still as strong as it was in the year to October 2003, regarded as one of the prime months during the peak of the credit boom last year. However, the rate of growth in housing credit is now eased to only a little more than one per cent a month, compared with credit growth of between 1.5 per cent and close to two per cent a month in the home loan segment in the middle to later period of 2003. » read more »
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ANZ and Commonwealth lead in home loan market
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01 September 2004 12:00amTurning to the Australian Prudential Regulation Authority's monthly banking statistics for July 2004, that data shows: » read more »
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Westpac targets business banking
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01 September 2004 12:00amIn the business lending segment, where the data's often more volatile on a month to month basis than for housing credit, the APRA data shows: » read more »
