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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Margins sacrificed in most consumer products
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15 July 2004 12:00amNational's reduced fees or increased marketing expenses in most consumer product lines in Australia in the first half of this year, tactics that have not been aggressively copied by many of its competitors. » read more »
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NAB's lending market share goes backward
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15 July 2004 12:00amNAB lost market share between March 2004 and May 2004 across all major lending categories, according to Australian Prudential Regulatory Authority data published at the end of June. » read more »
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And NAB more reliant interbank borrowing
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15 July 2004 12:00am
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NAB starts to strengthen market risk capabilities
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14 July 2004 12:00amAlthough there's no sign of an appointment to any of the key, vacant, executive general manager positions, National Australia Bank has made a start on strengthening its risk management capabilities with the hire of Kevin Masling in the critical role of global head of market risk. » read more »
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Cashcard seeks ATM fee caps
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14 July 2004 12:00amFirst Data Resources paid a royal price earlier this year to take over the switching and automatic teller machine business Cashcard, but the US-owned company doesn't want complete freedom to set prices for the services it provides when, and if, the ATM industry ever makes the switch to direct charging for ATM transactions. » read more »
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CBA opposed and Westpac cautious on ATM fee reform
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14 July 2004 12:00amAs with the industry submissions in relation to the potential designation by the Reserve Bank of Eftpos, reported here yesterday, banks and other interested entities have revealed some disharmony in their attitudes toward reform of ATM fees. » read more »
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National seeks reversal of Eftpos interchange
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13 July 2004 12:00amA couple of big banks have adjusted their position over any reform to the pricing and regulation of the Eftpos debit card payment system, in submissions published yesterday by the Reserve Bank of Australia. » read more »
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Merchants challenge basis for designation
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13 July 2004 12:00amThe Australian Merchants Payments Forum, a lobby that represents major supermarkets, oil companies, Australia Post and McDonalds, argued that the Reserve Bank's long term goal in payments system reform was to improve price signals to card holders. » read more »
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MoneySwitch rebuffed on Eftpos entry
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13 July 2004 12:00amAll the argy bargy about "reform" of payments systems and "access"" may not matter a jot if there's no real liklihood of entry by new providers. And in the merchant acquiring space, there's only in fact only one entity that's consistently flagged an interest in entering the market, the Sydney-based start-up MoneySwitch, a company run by a trio of former Cisco executives. » read more »
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Banks cut merchant fees, but nobody noticed
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13 July 2004 12:00amBanking researchers East & Partners last week published a new study into the "merchant acquiring" segment of the transaction banking market, which provides some new insight into the market shares of the major banks and the relevance of cards to merchants as a means of collecting payments. » read more »
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Investment banks pick up their game, but major banks could do better
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13 July 2004 12:00amAs Australian merger and acquisition activity picks up, banks providing investment banking services need to improve their relationship skills to maintain market share, according to a separate research report by East & Partners. » read more »
