Latest news (24,873 items)

CBA extends credit card lead

In yesterday's half day investor presentation of the bank's strategy to 2008 (of which more below) Commonwealth Bank said yesterday that it gained ground in the credit card market over recent months, with a market share measured by share of outstanding balances of 22.1 per cent as at February 2003. The bank claimed a market share of 21.8 per cent at December 2002. read more

But loses ground in home loans

CBA, however, is slipping in the home loan market. The bank said yesterday that it recorded home loan growth in Australia for the year to March 2003 of 15 per cent. And since lending for housing overall grew at about 22 per cent, the bank lost market share. read more

CBA sticks to advice-based, integrated strategy

Commonwealth Bank yesterday outlined a five year strategic plan for the five year period 2004 to 2008 that largely refines the current positioning of the business, as a provider of integrated financial services, with an emphasis on advised-based service. read more

NZ retailers seek surcharge

The attempt by banks, and Visa in New Zealand to increase the merchant service fee paid by supermarkets is leading to demand by retailers for the right to surcharge customers who pay with credit cards. read more

Payments System Board ‘formed no opinion'

Whether the Payments System Board held an opinion about the competitive landscape in the payments market at the time that the PSB embarked on its journey to regulate credit cards, and whether it had any grounds for having that opinion if it did form an opinion, occupied most of the Federal Court's time on the second day of the joint effort by MasterCard and Visa to overturn the Reserve Bank's "designation" of their respective card schemes, and related regulations. read more

Banks take on pension bomb

There may be tabloid trouble ahead for banks collectively if the wider media wades into the Australian Bankers Association's submission to the Senate Select Committee on Superannuation. read more

Westpac lifts reliance on mortgage brokers

Only two weeks since reporting its half year profit to March 2003, Westpac is undertaking a new round of investor roadshows, with radically different briefing pack to that used two weeks ago, but which at least has the grace to review a long list of investor's frequently asked questions, and then answer them. read more

Westpac insurance switch

Westpac said it altered the arrangements for mortgage insurance for the portion of its home lending portfolio that has a loan to valuation ratio in excess of 80 per cent at settlement. read more

Risk weighted assets to fall 40 per cent

In a sign of the potential benefit to Australian banks from the planned changes to capital requirements under the Basel II framework, which will come into affect in 2007, Westpac revealed that, based on the present nature of its business, the bank's risk weighted assets would decline by $40 billion, from $137 billion now. read more

Page 2210 of 2262 | Total articles: 24873