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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Heritage slows loan growth and revives profit
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06 August 2004 12:00amHeritage Building Society appears to have lifted its performance in the June 2004 half year, despite a radical slow down in the rate of asset growth. This is a preliminary interpretation, since the full financial statements yet to be published, and nor did Heritage provide a copy of their press release. What follows is extracted from the Financial Review's report today, which looks like a light version of the press release. » read more »
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Outsiders line up for new NAB posts
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06 August 2004 12:00amNational Australia Bank has hired one outsider and is poised to hire another for key positions on the bank's management committee. » read more »
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Several aspirants for SCCI status
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06 August 2004 12:00amThere might be more aspiring entrants to the credit card market in Australia than have identified themselves so far. » read more »
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ACCC clears CECS
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06 August 2004 12:00amThe Australian Payments Clearing Association has secured the endorsement of the Australian Competition and Consumer Commission for a further five year clearance for the rules that govern the retail banking sector's Eftpos and automatic teller machine networks. » read more »
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Westpac and RBNZ tangle over systems and incorporation
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04 August 2004 12:00amThe Reserve Bank of New Zealand's bank supervisors seem to be evolving into an increasingly hands-on crew, with the central bank forcing Westpac to clarify one aspect of last week's investor briefing with respect to Westpac's New Zealand business. » read more »
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ANZ head of strategy turns gamekeeper
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04 August 2004 12:00amGrant Spencer, currently head of strategy and business development for ANZ Bank in New Zealand has crossed over to join the Reserve Bank of New Zealand as assistant governor and head of economics. » read more »
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Elders Rural Bank returns ease
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04 August 2004 12:00amReturns at Elders Rural Bank softened in the first half of calendar 2004, even as the rate of growth in loans and advances picked up during the first part of the year. » read more »
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HSBC pumps mortgage loans
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03 August 2004 12:00amHSBC reported a six per cent rise in cash profit in Australia and New Zealand in the June 2004 half year, though on a US dollar rather than Australian dollar basis. HSBC's interim profit, published overnight, reports underlying and regional results on a constant exchange rate basis, which means there's a variance to the profit reported in past periods. » read more »
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IMB profit flat
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03 August 2004 12:00amIMB didn't shares its June 2004 result with this newsletter, but working on the highlights reported in today's Financial Review: » read more »
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Bill Express seeks $33 million in capital
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03 August 2004 12:00amAustralian Pure Fruits and Bill Express on Friday published the prospectus in connection with the separation and separate ASX listing of the Bill Express payments operations from the food manufacturing business. » read more »
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MISC exaggerates mortgage broker pool
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02 August 2004 12:00amA County Court judge in Victoria has called into question the quality of research published by banking research group Market Intelligence Strategy Centre, in a case in which MISC sued a Sydney-based mortgage aggregator over a breach of contract. » read more »
