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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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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Potter takes over at Citibank
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18 April 2013 6:32amCitibank's head of credit cards, Julian Potter, is to take over as head of the bank's Australian consumer business. » read more »
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Pensioner sues Cash Converters lenders
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18 April 2013 6:27amMelbourne's Consumer Action Law Centre is representing a Victorian disability pensioner in a claim against two Cash Converters lenders.
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Briefs: Suncorp upsizes subordinated debt issue, Belgrave director charged
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18 April 2013 6:26amSuncorp upsizes its subordinated debt issue; Belgrave Finance director pleads guilty to 25 charges of fraud.
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- Macquarie adds Homeloans to its mortgage portfolio
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17 April 2013 6:14amMacquarie Group has added to its portfolio of investments in mortgage management and distribution businesses with the purchase of 19.8 per cent of the mortgage manager Homeloans Ltd.
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Miners shun banks
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17 April 2013 6:13amDebt comprises only 12 per cent of the funding for mining companies, with bank debt accounting for only one third of that amount, research by the Reserve Bank of Australia shows. » read more »
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Lehman's CDO investors take on S&P
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17 April 2013 6:12amLitigation funder IMF is to support a claim by 90 local councils, churches and charities against McGraw-Hill Companies Inc, which owns Standard & Poor's. » read more »
- Another mortgage broker switches to fee for service
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17 April 2013 6:12amMortgage broker Naked Mortgages has changed the structure of its business from a standard commission-based revenue model to a flat-fee service charge, with a rebate of the lender's commission to the customer. » read more »
- Briefs: Statewide director banned, Abacus on the road
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17 April 2013 6:11am
