Latest news (24,740 items)

Mortgage market share slips

ANZ Bank did lose ground in its mortgage business in Australia in the half year to March 2003, but not by as much as reported in Thursday's edition. As reported then, ANZ did state, in its profit report for the half year, that its market share of the home loan business in Australia to be 11.6 per cent as at March 2003, compared with around 13 per in July 2002. read more

Credit card acquiring share leaps

ANZ said that is share of the merchant acquiring market accelerated. A chart in the analysts pack shows the bank's market share of acquiring (in Australia) increased to about 24 per cent at March 2003, up from 22 per cent at September 2002 and 21 per cent at March 2002. read more

Credit card accrual losses wider

ANZ incurred a $10 million loss on the under accrual of loyalty points in the half year to March 2003, on top of the $38 million loss for the under accrual in prior periods since 1999. In other words, the loss from the under accrual of loyalty points was $48 million, not the $38 million reported elsewhere. read more

McFarlance reiterates Asian strategy

John McFarlane reiterated ANZ's plans to invest in east Asia in briefings for the media and analysts on Thursday, taking the line that, "we are slightly surprised that people are surpised," at the bank's Asian strategy. read more

The investor saving ERG

The SMH has followed up the earlier work of the West Australian, with this valuable profile of Duncan Saville, the investor behind Ingot, which in turn is the key stakeholder now in smart card and ticketing company ERG, and also in to mortgage funder Resimac. read more

ANZ profit falls 10 per cent

ANZ Bank's profit for the half year to March 2003 show the bank is trading well in its Asia Pacific, New Zealand and asset finance segments; moderately well in mortgages, corporate and institutional; making marginal gains in personal banking and going backwards in credit cards. read more

Returns decline

The bank's return on equity fell to 20.3 per cent in the March 2002 half, down from 24.8 per cent in the September 2002 half, and also down from 21.6 per cent in the March 2002 half. read more

Credit quality improves

The market flap in February and March over the ANZ supposed credit losses in the US energy sector haven't come to pass, with improving indicators on credit quality in the current half. read more

Card strategy ‘evolving'

The pre tax profit of consumer finance, which includes the credit card business, fell to $47 million in March 2003, down from $71 million in September 2002 and from $79 million in March 2002. read more

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