Databank (141 items)

The Banking Sector Wrap: Week to August 8

Last week's Banking Sector Wrap coincided with the big market fall. This week’s with bounce, and you wonder whether it’s fleeting.At yesterday's close the ASX200 is up 2.7 per cent for the week, but only after further carnage followed a big sell-off on Wall Street on Friday night. The financial sector has been the hardest hit on the New York Stock Exchange as the credit crisis has played out, but Monday and Tuesday provided a sharp rebound in the sector as the value hunters moved in. The same response was thus experienced in Australia.On a simple average the five major banks finished up 3.5 per cent this week, outperforming the index. read more

LMI claims magnify 300 per cent

The Australian Prudential Regulation Authority revealed a further view of mortgage stress in the regulator’s half yearly General Insurance Bulletin, which shows lenders’ mortgage insurance claims rising by more than 300 per cent. LMI gross claims expense rose from $49 million to $210 million in the 12 months to December 2006. read more

The Banking Wrap - Week To Wednesday August 1

There are two ways to look at the performance of the banking sector this week – absolutely and relatively. Absolutely, it’s been a very bad week as the broad equity market has suffered from the growing contagion of the US mortgage crisis and local interest rate rise fears have intensified.Relatively, the five major banks have slightly outperformed on a simple average, but both Commonwealth Bank and National Bank underperformed. Westpac, prior to this week considered the cheapest in the sector by many experts, was least affected. read more

Credit growth supercharged in June

A late rush by a minority of households and business owners to tip as much as $1 million per person into superannuation ahead of the June 30 deadline for the transition to Australia’s new lower-tax super system has – as expected – pushed the rate of credit growth radically higher during June. read more

The Banking Sector Wrap – Week to Wednesday, July 18

A spike in risk aversion due to renewed problems with hedge funds and CDOs in the US saw banking stocks reverse their relative underperformance versus the rest of the share market, though only Westpac and National managed to post minimal gains.This review is from FN Arena. read more

Credit quality remains benign in business lending

Business credit quality conditions remained benign in the March quarter with analysis of data from the RBA showing impairment levels amongst larger businesses dropped two basis points in the quarter and impairments amongst smaller businesses dropped one basis point.   read more

Not-so-super so far lenders

To the extent there has been a surge in lending connected to the new superannuation rules it must be mostly a June phenomenon. Credit aggregates published by the Reserve Bank of Australia on Friday show that credit growth eased marginally in May 2007 to 1.2 per cent, from 1.3 per cent in April. Credit growth in the year to May was static at 14.6 per cent.     read more

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