Latest news (24,652 items)

Broker commissions amortised

Pioneer changed its accounting policy in this half. Rather than expense the cost of up front commissions paid to mortgage brokers, the bank will now amortise the commissions paid to brokers over four years. read more

VFJ wins Honolulu cards contract

VFJ, the smart card systems arm listed Omnitech, has won a smart card contract in Honolulu, Hawaii as part of a consortium bid with Schlumberger and a local integrator, Rising Tide. read more

Citibank earnings rise 30 per cent

Citigroup told the AFR today that earnings at Citi's consumer bank in Australia grew 30 per cent in the period since Les Matheson joined as head of the consumer bank, in late 2001. read more

HSBC back in the black

HSBC Bank is back in the black in Australia, recording a profit before tax of $31.5 million in the year to December 2002, compared with a loss of $200,000 in 2001. read more

Home opts for deep discount

Home Building Society opted for a deep discount, and no underwriter, for its one for five rights issue to raise about $6.1 million. read more

Leigh-Mardon turns down CBA cards contract

Loss making security printer Leigh-Mardon deliberately chose to pass up the chance to retain the Commnonwealth Bank contract to personalise credit cards for the bank's customers. read more

Loss making Cosmos loses listing

The Australian Stock Exchange suspended payments play Cosmos yesterday, after the company failed to file full accounts for the half year to December 2002. Cosmos had, however, filed the 4B report for the half year. read more

ING Direct headed for super profit

ING Bank in Australia has turned the corner, extracting sizeable profits from its ING Direct arm that at last matches the promise of its remarkable growth in deposits. read more

ING fattens profit with ANZ joint venture

ING said in its annual report that it recorded a "net result" of €469 million from its funds management joint venture in Australia and New Zealand with ANZ Bank, ING Australia. ING holds 51 per cent of this business and ANZ 49 per cent. ING separately owns 100 per cent of the investment management business that undertakes the money management for the joint venture. read more

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