Latest news (24,867 items)

Lloyds starts National Bank NZ review

Lloyds TSB overnight finally confirmed what's otherwise been known for weeks, which is that the British bank is thinking of selling National Bank of New Zealand, and that the review is due to "approaches" by other banks that want to buy the business. read more

LIST profits from mezzanine loans

A further capital raising by the fast growing Leveraged Investments and Securities Trust highlights the above average profits to be made from short term investment in short term, mezzanine loans to property developers. read more

ANZ locks in term debt

ANZ Bank may be sending a message to the market about its views about interest rate levels, with a decision to significantly lift its long term borrowing plans this year from $7 billion (foreshadowed in February) to $12 billion. read more

Members Equity securitises management fees

Members Equity has maintained its capital by securitising $18.5 million in management fees from an earlier mortgage securitisation. Members Equity raised the capital in a private placement through National Australia Bank. read more

Virgin, Westpac cards tangle

Virgin Money won't disclose how demand is running for the credit card provided and serviced by Westpac in Virgin's name, which is a pity, because the rumour mill has demand running at in excess of 100,000 applications in the first month. read more

Westpac in a tangle

Westpac and Virgin may have a second management headache on their hands arising from the first month's operation of the co-branded credit card, relating to an accurate portrayal by the partners to prospective customers as to which institution a customer is forming a banking relationship with. read more

Commonwealth quit account aggregation

The merits of account aggregation services as product offering have been found wanting at another bank, with Commonwealth Bank to shut down its service from the end of the month. The bank advised registered users of the service of the decision by email on Friday, and may have turned off service to new customers for some time before that. read more

Virgin cards demand in doubt

Virgin Money won't disclose how demand is running for the credit card provided and serviced by Westpac in Virgin's name, which is a pity, because the rumour mill has demand running at in excess of 100,000 applications in the first month. read more

Virgin, Westpac in cards tangle

Westpac and Virgin may have a second management headache on their hands arising from the first month's operation of the co-branded credit card, relating to an accurate portrayal by the partners to prospective customers as to which institution a customer is forming a banking relationship with. read more

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