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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Infratil bond highlights NZ differences
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22 April 2013 6:43amThe New Zealand investor in infrastructure and utilities, Infratil Limited (which has no credit ratings), announced its latest bond issue aimed at retail investors last week. It is seeking to raise NZ$25 million but will accept over-subscriptions of up to $75 million. » read more »
- Briefs: AMMB considers big purchases, Mortgage Choice plans unfold and Westpac snares NSW tender
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22 April 2013 6:43amAMMB Holdings, a Malaysian ANZ associate, considers big purchases; Marq Services signs up Suncorp for analytics.
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BOQ still troubled by loan impairments
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19 April 2013 7:01amBank of Queensland's recovery from the loss it suffered in the interim half last year is still on track, although the bank concedes its commercial loan arrears are still too high. » read more »
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NZ introduces consumer finance reforms
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19 April 2013 7:00amNew Zealand's Consumer Affairs Minister, Craig Foss, has announced plans for wide-ranging reforms of New Zealand's consumer credit and repossession laws that banks fear could impose significant extra regulatory costs on the sector.
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SMSFs sold on borrowing
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19 April 2013 6:55amClose to one fifth of self-managed superannuation funds have borrowed to invest in real property, a study of the sector by ASIC suggests. » read more »
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Velocity and Visa launch travel money card
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19 April 2013 6:54amVirgin Australia has followed Qantas into the pre-paid travel card market. Velocity Frequent Flyer, its loyalty program, will issue a travel money card linked to its membership card. » read more »
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OzForex and Travelex team up
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19 April 2013 6:53amForeign exchange provider OzForex has won a contract to build an online international payments platform for Travelex. » read more »
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Briefs: RHG bid withdrawn, new incentives for infrastructure investors
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19 April 2013 6:51amBid for RHG's loan book withdrawn; Treasury offers new incentives for infrastructure investors. » read more »
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HSBC Bank Australia reports big drop in earnings
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18 April 2013 6:40amThe impairment of a large corporate loan contributed to a 24.1 per cent fall in HSBC Bank Australia's profits last year. » read more »
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Depositors show little loyalty
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18 April 2013 6:36amBanks and other deposit-taking institutions capture only about half of a typical customer's deposits, and this "share of wallet" is also falling. » read more »
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SMSFs earn less on their savings
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18 April 2013 6:34amDeposit-taking institutions are paying the trustees of self-managed superannuation funds 32 basis points less than retail customers for deposits.
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