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).
-
Motorcharge brightens ReD profit
-
02 July 2004 12:00amThe cards and payments business is said to earn aboveaverage profits. It is also said that war is good for business. And incombination, the two look like an attractive combination, if the Motorchargefuel payment card business in Australia is any guide. » read more »
-
ERG cleans up Proton debt
-
02 July 2004 12:00amSmart card and transit ticketing integrator ERG appears tohave negotiated a reduction in the $28 million deferred payment due to thevendors of Proton World, a short lived investment the company bought in 2002and sold in 2003 at a $56 million loss. » read more »
-
APRA revives banking statistics
-
01 July 2004 12:00amNew monthly banking statistics released yesterday by the Australian Prudential Regulatory Authority confirm the major banks' dominance of the Australian home loan market, with seventy five per cent of all on-balance sheet lending for housing coming from the Big Four. » read more »
-
Mortgage Choice to distribute up to 100 per cent of profits
-
01 July 2004 12:00amMortgage Choice yesterday published the prospectus relating to the company's share offer and planned listing on the stock exchange, which shows that the company expects: » read more »
-
Trail income to offset new loan decline
-
01 July 2004 12:00amUsing the forecast 2004 financial details as actuals (given the company published the prospectus on the last day of the financial year): » read more »
-
Franchisees extract rising share of commissions
-
01 July 2004 12:00amThe prospectus provides some insight into the split of mortgage commissions between the company (which aggregates all up-front and trailing commissions paid by the 28 lenders on its panel), and the franchisees. » read more »
-
HBOS hires David Willis
-
30 June 2004 12:00amHBOS yesterday said it appointed David Willis, a former Westpac executive, as chief executive for HBOS Australia, effective from tomorrow. He will be based in Sydney. » read more »
-
Willis targets organic growth for HBOS
-
30 June 2004 12:00amDavid Willis ran the Lloyds Bank subsidiary in Australia in the early to mid 1990s. He moved to Westpac as global head of corporate finance in 1996; moved more or less sideways to be head of Westpac markets a couple of years later, and then replaced David Morgan as head of the Westpac Institutional Bank in early 1999. » read more »
-
David Willis' Westpac earnings record
-
30 June 2004 12:00amDavid Willis managed Westpac's institutional business for roughly four years, from about the middle of Westpac's 1999 financial year to about the middle of the bank's 2002 financial year. The pre-tax profit for Westpac Institional Bank over the last five years was: » read more »
-
Cooperation between regulators a major Basel II implementation issue
-
30 June 2004 12:00amWhile welcoming Saturday's publication of the Basel II capital adequacy framework by the Bank for International Settlements, two leading banking associations have highlighted the need for co-operation between home and host supervisors of internationally active banks. » read more »
-
BIS scales the benefit of Basel II
-
28 June 2004 12:00amThe Bank of International Settlements appears to have strengthened its resolve to maintain the aggregate level of capital within the banking system globally, and thus dashed any expectations that some banks would enjoy even modest reductions in the level of capital they must hold. » read more »
