Latest news (24,523 items)

Cashcard float by end 2004

As noted here earlier in the week, one of Gresham Private Equity Funds investments is a stake of more than 20 per cent in Cashcard, the payments switch and ATM deployer. read more

Westpac lifts annual card fees

Westpac will increase the annual fee on the Altitude Visa rewards credit card to $75 from $49, while the annual fee for gold card customers will increase to $125 from $35. read more

Costs contain Commonwealth's banking profit

It's the performance of the banking businesses of Australian banks, and not funds management and insurance, that interests this journal, so this tour of the highlights of yesterday's Commonwealth Bank will confine itself to that part of the business. read more

Low returns, poor disclosure

CBA's disclosure leaves needs improvement. The result for the banking business is reported in one lump, though there's a chance that next time the bank will break down some of the divisional profits within the banking business. read more

Losing home loan market share

Home lending assets in Australia increased 6.5 per cent in the December 2002 half, less than system growth over the six months to November 2002 of 9.1 per cent. read more

Brokers introduce 15 per cent of loans

A late comer to making use of brokers to sell home loans, CBA said brokers accounted for 15 per cent of home loan sales (in Australia) in October 2002, up from an 11 per cent share in 2001. read more

Holding back on a buy back

Another key theme of CBA's result is the conservatism that pervades the outlook statement. And given the march to a Middle East war, declining equity markets and patchy business confidence, fair enough. read more

Consumer fees rising

Higher fees on consumer accounts are making a difference to revenues. Commissions and fees increased 10.4 per cent in December from June, to $702 million. read more

Ezy Banking forgotten

CBA's banking venture with Woolworths has faded into insignificance, with scarcely any mention of Ezy Banking, and nothing at all about its performance, in yesterday's profit announcement and related briefings. read more

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