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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Briefs: Card rewards out of favour
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17 May 2013 7:04amConsumers would prefer a discount when they shop or some other form of instant reward to reward points, according to new research.
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Appointments: Marriott joins Westpac board, New Data Action CEO, NAB appoints SA head of business banking
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17 May 2013 7:02amFormer ANZ CFO, Peter Marriott, has joined the Westpac board; new CEO for Data Action; NAB appoints new South Australian head of business banking. » read more »
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Treasury challenged over OBU 'loopholes'
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16 May 2013 6:59amTreasury had not raised any concerns about loopholes in the offshore banking unit regime in discussions it has held with the finance industry over the three years prior to its announcement in Tuesday's Budget. » read more »
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A$50bn funding task for AOFM in 2014 financial year
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16 May 2013 6:58amThe Australian Office of Financial Management says it expects to issue around A$50 billion in treasury bonds during the 2014 financial year. » read more »
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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 »
