Latest news (24,867 items)

Orix beats profit targets

Orix Australia Corp seems to be making its business model work after a few years of low returns, with local arm of the Japanese-based financer reporting a substantial rise in profit that meet's the shareholders target of a one per cent return on assets. The highlights: read more

Orix refinances in bond market

Orix, meanwhile, will provide a little variety to the flow of new paper into the asset-backed bond market, with the company and its adviser Macquarie Bank marketing a $230 million floating rate bond backed by a variety of industrial lease receivables, mostly secured by motor cars and trucks. read more

AMP Bank still to return capital

AMP Bank has completed the sell off selected banking assets, but it may still be a few months before the bank can repatriate a planned $500 million in capital to its shareholder, AMP Group, read more

Now Puma turns to low doc loans

Macquarie Bank's mortgage funding vehicle Puma is marketing the issuer's second approach to the capital market this year. The $1.6 billion mortgage-backed bond, styled as a "global", is split into a US$1 billion senior tranche and an A$48 million subordinated tranche. read more

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

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