Latest news (24,642 items)

NAB simplifies business fees

National Australia Bank acknowledges that it will collect more fee revenue from small business and middle market customers from the simplification of fees on business accounts. read more

Pepper's first loan pool already delinquent

The first securitisation of home loan from sub prime, or non conforming, lender Pepper Home Loans provides a reminder of the borderline credit quality of a sizeable slice of borrowers in this sector, with more than six per cent of loans in the $184 million loan pool already behind on payments. read more

Stressed borrower ‘no drama' for sub prime pools

Pepper Home Loans couldn't be reached for comment on the delinquency pattern in their loan pool. But Alistair Jeffery, the head of rival sub prime lender Bluestone Mortgages, said "there are no dramas" in a delinquency experience of six per cent at this stage of the loan pool. read more

MasterCard doubles ad spend

MasterCard will double its marketing spend in Australia and New Zealand in a bid to boost market. MasterCard's Leigh Clapham told Reuters, "We feel that our time has come. We are increasing our marketing funding by 50 percent across Australia and New Zealand and we will maintain that level for the next three years." read more

Card spending growth increases

The rate of increase in spending on credit cards and debits cards picked up in January 2003, compared with the rate of increase in January 2002, Reserve Bank data on payment card transactions show. read more

Moynihan leaves Suncorp

Greg Moynihan, the former Metway Bank chief and currently head of wealth management at Suncorp, will leave the bank, with his job going to Commonwealth Bank business development executive Bernadatte Fifield. read more

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