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Major bank insurance exposures minimal
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06 September 2010 6:42amExposure to costs associated with the Canterbury earthquake may be very limited for the four major banks in New Zealand as third parties underwrite most of their business and general insurance products. » read more »
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Some help from banks
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06 September 2010 6:41amMajor banks in New Zealand announced assistance packages for customers in the Canterbury region. Details differed but included: a deferral of interest for three months, waiver of early withdrawal costs for term deposits; a waiver of fees on new loans; and a notional willingness to lend more money to local businesses, as long as the customer meets normal credit criteria. » read more »
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Future Fund likes leveraged finance
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06 September 2010 6:39amThe Future Fund is among investors in Haymarket Financial, a recently formed specialist financier in Europe that provides leveraged finance to mid-sized corporates. » read more »
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GFC thwarts retailers’ financial services ambitions
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03 September 2010 6:45amOne outcome of the financial crisis that has not received much attention is the impact it will have on the ambitions of big retailers and telecommunications companies to get into the financial services market. Those ambitions have been dealt a heavy blow, according to a senior banker. » read more »
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Dispute resolution teething troubles
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03 September 2010 6:45amThe dispute resolution arrangements in the National Credit Act are causing concern, with some credit providers saying the protocols that govern the way complaints are handled are skewed to give too much control to the external dispute resolution schemes. » read more »
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ASB close to selling Aegis
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03 September 2010 6:44amASB Bank is in advanced talks with Pyne Gould Corp to sell its subsidiary, Aegis, a provider of portfolio administration and reporting services. » read more »
- GRGI a third ASX ATM play
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03 September 2010 6:44amA vision of a cashed, rather than a cashless, society continues to inform the plans of niche providers to the banking sector. One start-up seeking capital from an ASX listing is an aspiring deployer of automatic teller machines, GRG International. » read more »
- Second stab at listing for My ATM
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03 September 2010 6:44amMy ATM last Friday issued a replacement prospectus and will push ahead with plans to sell at least $4 million, and as much as $10 million, in new shares for a 21 per cent stake in the company. The company also plans to list on the ASX. » read more »
- Bank stocks are range bound
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03 September 2010 6:43amShare prices of the big four banks moved up between four and 5.5 per cent over the past week, with Commonwealth Bank leading the way. The banks have regained most of the ground they lost earlier in the month. » read more »
- Hunter mutuals merge
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03 September 2010 6:42amPhoenix Credit Union plans to merge with Maitland Mutual Building Society, a rare merger of a credit union with a building society. » read more »
- Bendigo and BOQ talking again
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02 September 2010 6:38amBendigo and Adelaide Bank and Bank of Queensland held preliminary talks over the merit of a merger between the two banks The Australian reported. » read more »
