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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Members Equity sustains growth
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19 August 2004 12:00amIn contrast, Members Equity, the bank owned by industry superannuation funds, is continuing to grow its share of the mortgage market above system. » read more »
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Mackay Permanent static
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19 August 2004 12:00amOne small regional that's not keeping pace with thee home loan market is Mackay Permanent Building Society. The bank, which reported its profit last Friday, recorded no growth in lending over the last year and recorded a higher profit thanks only to a one-off contribution from the sale of its stake in Cashcard. » read more »
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Banks must educate stakeholders about Basel II
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19 August 2004 12:00amUnderstanding the vast amount of complex information that banks will have to disclose under the new Basel II capital accord will require a major education effort, according to ANZ's Basel II programme executive, Morris Batty. » read more »
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IBM and Fiserve in line to win Vipro cheque processing tender
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18 August 2004 12:00am
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RBNZ intends to "reassess" approach to banking supervision
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18 August 2004 12:00amThe ownership of New Zealand's systemically important banks is leading the Reserve Bank of New Zealand to rethink its approach to banking supervision. » read more »
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APRA hoses down expectations of regulatory capital reductions under Basel II
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17 August 2004 12:00amAustralia's big four banks were reminded yesterday not to expect significant reductions in regulatory capital as a result of adopting the advanced risk management options under the Basel II capital accord. » read more »
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Citigroup critics delight at departure of Ahmed Fahour
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13 August 2004 12:00amAhmed Fahour, the incoming chief executive officer, Australia for National Australia Bank is going to be a vital change agent at an organisation whose recent history, according to his new boss John Stewart, is a "burning platform for change." » read more »
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Fahour dropped from alternative investment job
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13 August 2004 12:00amAnd what did he do for Citigroup, after he joined for venture capital group iFormation in 2000? (iFormation with a VC entity in part sponsored by his employer of eight years, Boston Consulting Group). » read more »
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Returns declines at The Rock
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13 August 2004 12:00amThe Rock Building Society yesterday reported a decline in returns for the June 2004 half year, if the $1.66 million boost to net profit from the sale of the bank's stake in Cashcard is ignored. The bank also reported growth in loans under management of about half the rate of growth of the rest of the market. » read more »
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New Zealand banks pay less than 10 per cent company tax
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13 August 2004 12:00amThe National Business Review has some interesting data, sourced from the Reserve Bank of New Zealand, on the real rate of tax paid by banks in New Zealand. » read more »
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Commonwealth massages June half profit
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12 August 2004 12:00amCommonwealth Bank yesterday painted a picture of growth in underlying profit in the full year to June 2004, but a closer look at the result for the half year to June 2004 suggests the bank's profit actually declined, when a number of one off items are omitted. » read more »
