Latest news (24,764 items)

Acquisitions drive HSBC profit

HSBC's acquisition spree has turned the bank into probably the fastest growing financial institution in Australasia, with assets close to doubling over the last year and profits reviving in the last half. The interim report for HSBC Holdings plc shows that read more

IMB turnaround

Wollongong-based home lending specialist IMB has reversed a late 2002 earnings slump, and posted a sharp rise in the profit in the June 2003 half year. The highlights extracted from a press release as the bank is yet to publish financial statements for the half year: read more

Mackay Permanent improves

A second, though much smaller, specialist home lender has reported an improved profit in the June 2003 half relative to December 2002. Mackay Permanent Building Society, based naturally in the regional Queensland city, reported: read more

BankWest spins retail profit

To wrap up today's edition, a few items from bank presentations announced on Thursday, which would have been in Friday's edition if there was one. read more

Westpac lacks appeal to young homemakers

Westpac's strategy session last Thursday doled out a few highlights worth taking note of but ignored elsewhere in the enthusiasm to embrace a Clayton's profit forecast from the bank. Making use of the presentation from Mike Pratt, Westpac's group executive, business and consumer banking: read more

Westpac New Zealand falters

The bank's group executive for New Zealand, Ann Sherry, painted an uncomfortable picture of the bank's position in the New Zealand market: read more

Financiers chase CBA fleet

Equipment leasing specialists are lining up to prepare offers for Commonwealth Bank's fleet management business, which the bank's competitors understand to be for sale, even though possible buyers say they have had no formal approach from the bank, and CBA ritually says that it won't comment. read more

LeasePlan recovers

LeasePlan claims to be the largest fleet manager in Australia, with 70,000 vehicles according to its website. LeasePlan's accounts for the year to June 2002, lodged with ASIC in recent weeks show: read more

Investec profit multiplies

South African controlled investment bank Investec late last year acquired a full banking authority for its Australian entity, Investec Bank (Australia), at which profits are booming, provided goodwill amortisation is ignored. read more

Suncorp lifts property lending

Suncorp Metway's plans to rebalance its business banking portfolio have been subordinated to the opportunity to buy cheap property loans off a struggling competitor. AMP Bank yesterday said that it agreed to sell $232 million in construction and property investment loans to Suncorp. The purchase is expected to settle tomorrow. AMP said that it sold the loans "in line with book value." read more

Credit Corp collections mature with age

One of the better features of the Australian banking market in recent years is the emergence of a class of consumer lenders that will make loans for an extra margin regardless of a bad credit history. read more

Page 2182 of 2252 | Total articles: 24764