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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Westpac hires new CIO for retail bank
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29 July 2004 12:00amWestpac have hired seek.com.au chief information officer Patrick Eltridge as CIO for its business and consumer banking division. » read more »
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Good news and bad news for NAB's corporate business
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29 July 2004 12:00amDesperately seeking some positive media coverage, National Australia Bank earlier this week rolled out some "news" about its leading position in agribusiness that division head Mike Carroll had apparently presented to a UBS financial services conference a month ago. » read more »
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Home loan market not so soft after all
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28 July 2004 12:00amThe housing loan market may have bounced back in May and June by more than many observers might expect, if Commonwealth Bank's experience is anything to go by. Either that, or Commonwealth Bank's stolen some important additional basis points market share in the domestic home loan market recently. » read more »
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Mortgage buffer balloons in the boom
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28 July 2004 12:00amHousehold debt levels might be higher, and households overall in Australia no longer savers (according to the national accounts), but the accumulation of relatively liquid wealth via the community's stock of home loans has taken off in the last few years. » read more »
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Few delinquencies in inner city units
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28 July 2004 12:00amPrices of inner city units may be in decline, but the trend has hardly any ramifications, Commonwealth and ANZ banks indicated yesterday. » read more »
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Macquarie reshuffles funding subsidiaries
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28 July 2004 12:00amMacquarie Bank's move to reduce its direct funding exposures to certain of its non-banking subsidiaries, in order to comply with Australian Prudential Regulation Authority prudential guidelines, raises an interesting question about contagion risk. » read more »
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Rodger McArhtur confirmed at BankWest
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28 July 2004 12:00amHBOS yesterday confirmed the appointment of Rodger McArthur, the acting managing director of Bank of Western Australia, as a permanent appointment. » read more »
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NAB's Irish subsidiary escapes winding-up order from court
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26 July 2004 12:00amBy the skin of its teeth, National Australia Bank appears to have escaped the ignominy of having its National Irish Bank subsidiary wound-up by the court after a six-year investigation into the overcharging of customers and tax evasion. » read more »
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Cost of NAB's illegal Irish activities $110 million - and still counting
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26 July 2004 12:00amIn May 1998, then National Australia Bank chief executive, Don Argus told Channel Nine's Business Sunday program that there was "no systemic" problem in National Irish Bank's alleged overcharging of customers and selling of insurance products to facilitate tax evasion. » read more »
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St George poaches from NAB in middle market
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23 July 2004 12:00amOne example of the repositioning by banks in the middle market cropped up on the ASX news service yesterday, with the disclosure by television production company Beyond International that they had transferred all their banking business to St George Bank. » read more »
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Babcock & Brown confirms ASX listing
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23 July 2004 12:00amInvestment bank Babcock & Brown has begun briefing institutional investors on the terms of its proposed listing on the Australian Stock Exchange. B&B specialises in structured finance, property and infrastructure funding. Working off other reports, the highlights are: » read more »
