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).
-
Low docs loans and New South Wales drive Puma's growth
-
19 May 2004 12:00amMuch of Macquarie Bank's growth in the domestic home loan market is being driven by "low doc" loans. The bank's Puma securitisation program is in the midst of marketing its latest mortgage-backed bond, a $750 million trust which comprises entirely low doc loans (and thus mans Puma's other mortgage-backed bonds comprise only home loans subjected to normal income verification). » read more »
-
Macquarie discloses fund fees
-
19 May 2004 12:00amMacquarie included a helpful summary of the base and performance fee income from each of six infrastructure funds and five property funds or trusts in the full year profit release. » read more »
-
Bank defends capital ratio
-
19 May 2004 12:00amMacquarie's tier one capital ratio declined to 16.2 per cent at March 2004, down from 18.5 per cent at September 2003 and also down from 19.0 per cent at March 2004. » read more »
-
Michael Ullmer leaves Commonwealth
-
19 May 2004 12:00amMichael Katz returns to his former role as the head of institutional banking at Commonwealth Bank, following the bank's decision to amalgamate the wholesale bank with premium financial services, the slice of the bank designed to cater for well heeled personal customers, who either have complex investment needs or who the bank's they can convince to develop such needs. » read more »
-
NAB markets 12-year subordinated bond
-
19 May 2004 12:00amNational Australia Bank yesterday released details of a $2.1 billion subordinated debt issue that will lift its total capital above the new minimum level imposed by the Australian Prudential Regulatory Authority. » read more »
-
SuperBank addresses early mistakes
-
19 May 2004 12:00amEarlier this month, The Sheet noted the absence in St George Bank's half-year results of any comment on its New Zealand banking joint venture, SuperBank, after it had returned an initial loss of NZ$12.6 million to September 2003. » read more »
-
CBA quits Bank of Queensland
-
18 May 2004 12:00amCommonwealth Bank missed the recent top of the market in Bank of Queensland shares by six or seven weeks, and last night sold closer to the 52-week low following CBA's surprise decision to quit its 11.3 per cent stake in BoQ. » read more »
-
Another former NAB executive joins ANZ
-
18 May 2004 12:00amFollowing approval from Reserve Bank of New Zealand for its proposed operational structure, ANZ has filled one of the new executive roles in Wellington with the appointment of Mike Aynsley as chief risk officer. » read more »
-
Liberty appeals to self employed borrowers
-
18 May 2004 12:00amNational Australia Bank last week complained about losing market share among sole proprietors, and perhaps one lender this category of customer is turning to are "non conforming" lenders such as Liberty Financial. » read more »
-
Westpac credit card revolve rate falls
-
18 May 2004 12:00amWestpac lobbed an "investor discussion pack" into the ASX news service, which provides more detail on a few corners of their business in the half year to March 2004. » read more »
-
Long wait for smart card interoperability
-
18 May 2004 12:00amThe rival smart card integrators beavering away on contracts to create new ticketing systems for public transport networks in Brisbane, Perth and Sydney over the next couple of years are all party to a process designed to ensure, at least in theory, the interoperability of these ticketing (and thus payment) systems. » read more »
