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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Eftpos market share continues to climb
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20 August 2004 12:00am• Total spending on all cards in Australia increased by 4.5 per cent in June 2004 over May 2004, to $13.38 billion, and in line with the lift to retail sales in that month, which in turn enjoyed a lift from the bonus family payments paid by the federal government. » read more »
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Qantas flies high on co-brands
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20 August 2004 12:00amCredit card spending, and in particular credit card spending tied to frequent flyer programs may be in relative decline, but Qantas still singled out "the continued growth in the frequent flyer and co-branded credit and charge card areas" as one of four drivers of the airline's profit recorded yesterday. » read more »
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AMP Bank falters
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19 August 2004 12:00amAMP Bank's sales in the mortgage market have wavered over the first half of the year, the first trading period in which the management of the banking arm of AMP Group would not have been distracted by the restructuring of the banking business that saw the disposal of all its lending operations other than home loans in Australia. » read more »
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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 »
