Databank (141 items)

Credit cards a tool not a status symbol

Credit cards have become everyday transaction tools in Australia, conferring almost no status on the user and generating little in the way of loyalty for the issuer. read more

Home lending problematic for St George

St George Bank remains off the pace in the home loan segment, though the bank’s management suggests that its rate of growth in lending will move closer to that of the broader market later in the year. read more

ANZ past its peak in transaction accounts

In a slide presentation prepared for the UBS financial services conference yesterday, Brian Hartzer, group managing director of ANZ’s personal division warned that “‘traditional account’ growth may slow as competitors improve”. read more

Little residential investment lending

There’s plenty of lending to investors in residential investment property but very little, and declining, levels of actual investment in residential property. read more

Fixed rates flexible at St George

St George Bank – which already boasts the most aggressive home loan pricing among the larger banks –further reduced margins at the end of last week to stake out a position as the price leader, at least on fixed rate loans. read more

Westpac increases credit card rates

Westpac has taken the unusual step of increasing credit card interest rates, by as much as 59 basis points in some cases, without reference to any movement in official cash rates. read more

ST GEORGE IRRITANT REMAINS

St George Bank is once again the odd bank out in the otherwise favourable trends for most banks disclosed by the regular Roy Morgan Research report into customer satisfaction with their banks. read more

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