Latest news (24,996 items)

Allco, Record eye Interstar

Interstar may soon have a new owner, once Zurich Capital Markets, which controls an option to take ownership of Zurich, is formally placed on the market. read more

Liberty arrears worsen, Bluestone improving

Arrears levels within sub-prime home loans pools are more than 11 times worse than in conventional pools of mortgage loans, while the arrears levels worsened, on average, for both prime and sub prime loans during the first quarter of 2003. read more

IMB readies premier loan sale

Within the prime lending segment, one regional bank, Wollongong-based IMB, is about to make it debut sale of mortgage-backed bonds. read more

ANZ to devalue rewards on Qantas card

ANZ Bank said yesterday that it reached agreement with Qantas to renew the rewards program that underpins the Qantas ANZ Visa card. The parties weren't providing any more details yesterday, but that won't stop a prediction here. read more

NAB leads in business banking

National Australia Bank believes that it is at the front of the business banking market holding the number one position whichever way the market is sliced. National contends that it holds: read more

BankWest vulnerable, with or without HBOS

Bank of Western Australia's earnings are on the mend, but the bank is making minor gains at best in the housing and business loan markets; is vulnerable to pricing pressure in the home loan market and is employing inferior risk management practices in business banking and liquidity management. read more

Earnings forecast to rise 11 per cent

Bank of Western Australia expects to report a net profit a between $170 million and $175 million in the year to December 2003, or 11 per cent more than the net profit of $155.9 million earned in 2002. read more

Risk management behind the times

The PwC report on BankWest paints a surprising picture of risk management strategies in the bank, especially within business banking, where credit losses are already above average for Australian banks, and provisions below average. read more

Housing loan profit dependent on brokers

The bank seems to be gaining ground in the home loan market, but it is in this segment that PwC note that the bank's outlook is sensitive to the changing origination practices in the mortgage market. In the December 2002 half, the consumer banking segment contributed a profit of only $7.8 million (an observation omitted from the PwC report). read more

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