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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Late card fees unlwaful
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16 February 2004 12:00am
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Keycorp favoured in Westpac terminal contract
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16 February 2004 12:00am
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Commonwealth Bank profit dips
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12 February 2004 12:00amCommonwealth Bank's profit fell in the December 2003 half, as the bank began to expense costs associated with the restructuring program of basic banking services in Australia. » read more »
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New bank lowers CBA core banking profit
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12 February 2004 12:00amBanking profits rather than group profits are of more interest to this journal. In the core banking business of Commonwealth, which is where most of the costs are being incurred in the "which new bank" restructuring program are being incurred: » read more »
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Low doc loan aversion costs market share
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12 February 2004 12:00amCommonwealth Bank lost some ground in the home loan market in the December 2003 half, but the bank might be able to make out an argument that it is performing pretty soundly, given a limited willingness to supply the fastest growing segment of the market in Australia, which is low documentation loans. » read more »
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Australian house price cycle turns
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12 February 2004 12:00amCommonwealth's managing director David Murray said he expected a slowing in the home loan market, and argued that there were signs of a turn in the cycle. » read more »
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Credit card share mixed
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12 February 2004 12:00amThe bank said that its share of the credit card market in Australia (measured by balances, probably) eased to 22.7 per cent in the December half from 22.8 per cent in the June half. » read more »
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Gains ground in business banking
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12 February 2004 12:00amThe bank seems to be lifting its game in business and institutional banking, those these are segments of the market where market share estimates are pretty rubbery, and CBA's rhetoric as to its positioning going well or not going so well fluctuated during the course of last year. » read more »
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ASB fires in New Zealand
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12 February 2004 12:00amCommonwealth's subsidiary in New Zealand, ASB Bank, reported lending growth for the year to November 2003 of 19.2 per cent, verus system growth of 8.2 per cent. » read more »
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ACCC makes up mind on Cashcard
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12 February 2004 12:00am
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Wide Bay business booms, but profits flat
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11 February 2004 12:00amIn the current home loan market, some lenders seem to run ahead flat chat but somehow fail to advance very far or least, to make much more money from all the effort advancing more and larger loans. The half year profit for Wide Bay Capricorn seems to fit into this mould. » read more »
