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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Former NAB European executive criticised in Irish report
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23 July 2004 12:00amThe Irish High Court confirmed on Wednesday that former National Australia Group executive in Britain, and head of National Irish Bank, is one of several former NIB managers criticised in an investigation into aspects of the Irish bank's practices in the late 1980s and 1990s. » read more »
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Brokers introduce fewer loans
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23 July 2004 12:00amMortgage brokers were doing less business in the March 2004 quarter, the regular survey by research group Market Intelligence Strategy Centre shows. » read more »
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Cash Services Australia silent on Carreker exit
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22 July 2004 12:00amWhen the Australian Competition and Consumer Commission allows the banking oligopoly to get together and act formally as the cartel they are otherwise alleged to be, it would be better if the ACCC imposed more stringent conditions on accountability through disclosure of the activities of the cartel. » read more »
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Strategy unclear in NAB's global custody business
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22 July 2004 12:00amFive months ago National Custodian Services was looking for acquisitions, yet it appears to have shed up to one third of its business in last week's sale of its British operations to The Bank of New York. » read more »
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APRA acts to improve business continuity management
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22 July 2004 12:00amA new business continuity standard for banks and insurance companies from the Australian Prudential Regulation Authority is timely given evidence that some authorised deposit takers have not given this area as much attention as they should. » read more »
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APRA modifies low doc loans proposals
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21 July 2004 12:00amMortgage lenders appear to have won some concessions from the Australian Prudential Regulation Authority's attempt to tighten up its risk weighting criteria for low doc home loans. » read more »
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GIO systems integration yet to begin at Suncorp
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21 July 2004 12:00amCarmel Gray, chief information officer at Suncorp, told an Insto magazine banking technology conference in Melbourne yesterday that the group had not yet integrated the Suncorp and GIO insurance systems. » read more »
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Pre-paid card displaces travellers cheques
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21 July 2004 12:00amForeign exchange dealer Travelex yesterday drummed up some free media for its pre-paid travel payment card, dubbed the cash passport, which the British-based group believes is rapidly displacing the travellers cheque. » read more »
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Travelex profit halved
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21 July 2004 12:00amThe p.r. by Travelex provides an excuse to dig out the financial statements for Travelex Limited from the ASIC database, for the year to December 2003. The accounts suggest that investment by Travelex in distribution for its new product, and increased marketing expenses generally, explain a 50 per cent fall in profit in 2003. » read more »
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SME segment an increasing share of business banking
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20 July 2004 12:00amA study by consultants Datamonitor into the business banking market in Australia provides an alternative insight into a segment of the banking industry for which there is little consistent research, and a multitude of hard to compare claims by banks about the dimensions, and their share, of a poorly defined segment of the market. » read more »
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NAB gets a new auditor but loses a customer
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20 July 2004 12:00amErnst & Young will be National Australia Bank's new external auditor with effect from its 2004/05 financial year. » read more »
