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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CBA's asset quality improving
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16 May 2013 6:57amCommonwealth Bank reported an unaudited net profit of A$1.9 billion for the March quarter (cash profit was the same), compared with a profit of $1.75 billion for the same quarter last year.
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Mobile a priority for financial services
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16 May 2013 6:56amImprovement in mobile technology is the top investment priority for financial services organisations, research released by Telstra suggests. » read more »
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Motorcharge optimistic after soft start to 2013
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16 May 2013 6:56amBusiness conditions for US payment processor Wright Express are softening after a period of growth. CEO Mike Dubyak told an investor conference that the Australian market had been quite strong but was now "softening a little bit".
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Briefs: ASIC cancels Money Choice's licence, Westpac boosting planner numbers, ANZ reviews trustee business
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16 May 2013 6:55amASIC cancels Money Choice's licence and bans director; Westpac is chasing more superannuation inflow by putting planners into branches; and ANZ may sell its trustee business.
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Appointments: Westpac brings new talent on board in Asia, MasterCard's Australasian prepaid manager in bigger role
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16 May 2013 6:50amWestpac brings new talent on board in Asia; MasterCard's Australasian prepaid manager takes on bigger Singapore-based role. » read more »
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Offshore banking unit loophole closed
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15 May 2013 7:08amThe Government is to amend the existing offshore banking unit regime to make dealings with related parties, including the transfer of transactions between an OBU and a related domestic bank, ineligible for OBU treatment. » read more »
- $27bn more in government bonds next year
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15 May 2013 7:02amThe Australian government expects the face value of treasury bonds on issue to rise to around A$260 billion at June 2014, up from $233 billion at June 2013, Treasury projected in last night's budget papers. » read more »
- Contactless payments climb quickly
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15 May 2013 7:02amThe Use of contactless payments is on the rise. They now account for 50 per cent of all MasterCard and Visa card payments at Coles.
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- New Zealand to get another payments brand
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15 May 2013 7:00amNew Zealand will get a further payments brand to promote the take up of contactless payments in the country. » read more »
- Westpoint criminal trial abandoned
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15 May 2013 6:59amThe prosecution by ASIC of two former directors of property financing group Westpoint has come to an abrupt end two weeks into the trial of Norman Carey and Graeme Rundle. » read more »
- State electronic conveyancing rules not uniform
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15 May 2013 6:58amThe emerging electronic conveyancing market may have hit its first speed bump with the release of the South Australian Registrar-General's proposed policy for identity verification, as it doesn't follow the regulator's proposed model.
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