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ANZ still talking savings
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23 August 2010 6:51amThe macro numbers in ANZ’s third-quarter trading update, released on Friday, were mostly favourable for the bank. » read more »
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Business lending grows slowly for ANZ
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23 August 2010 6:51amANZ reported modest growth in the June 2010 quarter, over the March quarter, across a range of business lines. » read more »
- Subdued business lending reflects a lack of demand
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23 August 2010 6:51amThe fall in business lending in Australia reflects a lack of demand, Rob Coombe, head of retail and business banking at Westpac, told the Financial Review. » read more »
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Mortgagee repossessions drop by two thirds
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23 August 2010 6:50amCourt orders for the repossession of mortgaged houses and flats are down from numbers experienced in 2008. » read more »
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Allied Nationwide collapses as parent deserts
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23 August 2010 6:50amA last-minute desertion by its parent, Allied Farmers, has forced finance company Allied Nationwide to fall into receivership, leaving taxpayers to bear the burden of repaying its debentures. » read more »
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Garbage bond funding for Reynolds
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23 August 2010 6:49amReynolds Group Holdings, owned by New Zealand investor, Graeme Hart, may use US$5 billion in leveraged loans and junk bonds to finance the takeover of Pactiv Corp, a manufacturer of garbage bags. » read more »
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HSBC and UBS bonds last of a kind
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23 August 2010 6:48amTwo more international banks last week took the opportunity to sell Australian dollar debt, taking advantage of ample liquidity and favourable pricing to raise the funds and swap the proceeds into preferred currencies. » read more »
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Funders getting back to business
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20 August 2010 6:48amThe machinery of securitisation may be grinding back into gear, with Macquarie Bank the latest to market a pool of mortgage-backed securities. The bank is selling $500 million in bonds through Puma Masterfund P-16 Series A. » read more »
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Westpac NZ profit up as impairments drop
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20 August 2010 6:47amA fall in the impairment provision offset the drop in net interest income for Westpac New Zealand, thus contributing to an increase in net profit in the nine months to June 2010. » read more »
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Westpac branch to give up loans, deposits
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20 August 2010 6:47amWestpac NZ branch will have to transfer its entire deposits and loans, and half of the funding from group entities, to meet the requirements of the new operating model for its businesses in New Zealand. » read more »
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Deposits up, lending flat at AMP Bank
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20 August 2010 6:46amAMP Bank increased its contribution to group earnings by 16 per cent in the June half, despite a mixed performance. The group had strong deposit inflow but its home loan book shrank. » read more »
