Australian banks lightened their exposure to banks in France and Britain, and increased exposure to China and India over the June 2011 quarter, data released by the Reserve Bank of Australia shows. read more
Financial institutions / Big five & fintech (2,099 items)
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Commonwealth Bank will pay 1.15 trillion dong (US$55 million) for an additional five per cent stake in Vietnam International Commercial Joint-Stock Bank, Bloomberg reports. read more
Suncorp has invested $1.5 million in an information capture system that is being piloted in its loans origination operations. The pilot digitises loan application forms and supporting documents, and then captures data from those forms to decide whether or not to grant a loan. It’s expected the application will go live within six weeks. read more
The significance to Australian banks of the shifting investment stance of US money market funds – which are under pressure from flighty investors – received attention in a survey of bank funding issues by the Reserve Bank of Australia's assistant governor, Guy Debelle, yesterday. read more