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Wide Bay captive to insurance profits
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25 August 2010 6:59amA reorganisation of its mortgage insurance arm helped regional bank Wide Bay Australia report a profit increase of 30 per cent to $22.3 million in the year to June 2010. » read more »
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Acquisitions drive Firstfolio profit growth
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25 August 2010 6:57amMortgage manager and aggregator Firstfolio has been on a spending spree over the past year, adding $5.9 billion to take its mortgage book to $18 billion at the end of the 2009/10 financial year. It showed in the results, with revenue up 38.4 per cent to $65.6 million and net profit up 79 per cent to $4.8 million. » read more »
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Cash Converters reports strong revenue and earnings growth
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25 August 2010 6:56amPawn shop franchise operator and payday lender Cash Converters yesterday reported strong growth in revenue and profit on the back of a high rate of loan growth and the positive results of a business restructure. » read more »
- AMP seeks to block NAB
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24 August 2010 6:49amAMP will seek to persuade the Treasurer, whoever that proves to be, to block National Australia Bank’s takeover bid for Axa Asia Pacific on national interest grounds, the Financial Review reported in its Chanticleer column. » read more »
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Overdue loans leap at Westpac
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24 August 2010 6:48amWestpac yesterday reported a mix of lower revenues and rising expenses and a measure of cash profit for the bank’s third quarter that disappointed the market. » read more »
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Asset quality trends no better
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24 August 2010 6:48amThe bad debt expense to the profit and loss may be falling away for Australia’s major banks, and thus supporting profits, but asset quality in general continues to get worse among the industry’s dominant suppliers of credit. » read more »
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Challenger moves into property, private equity finance
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24 August 2010 6:46amChallenger Financial Services Group has signed up one of the country’s biggest superannuation funds, Australian Super, as a partner in its emerging property finance business and is confident of attracting other super funds. » read more »
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Profit down for conservative TSB
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24 August 2010 6:45amTSB Bank’s continued focus on raising funds via retail deposits and lending conservatively means the bank hasn’t maximised its profits. » read more »
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Brighton-Hall managing HR at CBA
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24 August 2010 6:45amRhonda Brighton-Hall is joining the Commonwealth Bank to lead the human resources team for the retail banking services division. » read more »
- Rise of rural independents could pressure banks
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23 August 2010 6:52amAustralia’s banks may face increased pressure to finance rural businesses if, as widely expected, three conservative independents become the pivotal force in the next federal government. » read more »
- Green wish list: Lower ATM fees, fixed margins on home loans and basic accounts
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23 August 2010 6:52amAn easy policy bone that Labor can offer its third party supporters is more prescriptive control of bank pricing, bank practices and even bank products. » read more »
