Latest news (24,632 items)

Loan demand rises broadly

Demand for loans rose across all sectors of lending in January 2003, with total credit rising by 1 per cent in the month, compared with a rise of 0.8 per cent in December 2002. The annual rate of growth increased to 11.9 per cent from 11.4 per cent. read more

MasterCard win over Bendigo

MasterCard have made inroads with another regional banks, adding Bendigo Bank to the roster of regional banks that now offer MasterCard in addition to Visa. read more

Orga sold for 1 euro

Struggling German chip card group Orga has changed hands, for all one euro. GHP Holding, a German printing and marketing company bought Orga from Authentos, the privatised German printing office. GHP already has interests in loyalty cards. read more

Defections restrict IMB

Wollongong-based bank IMB reported a lower net profit in the last six months, the result of poor home loan sales over the period, and the resolution of a long standing tax dispute. read more

MasterCard losing market share

MasterCard lost market share in Australia in 2002. The cards group said that gross dollar volumes on MasterCard branded credit cards increased by 14.9 per cent in Australia in 2002, though from what to what, they did not say. read more

Achieves market leadership in US

In the US, however, MasterCard is now the number one credit card brand. The US accounts for US$602 billion in spending, slightly more than half the estimated worldwide spending on MasterCard branded cards of US$1.14 trillion. read more

Baycorp stumbles in debt market

Baycorp Advantage, the dominant force in credit reporting and debt collection in Australia and New Zealand, is having trouble making its expanded business perform according to plan. The highlights: read more

Keycorp cautions on outlook

Keycorp is no longer as optimistic about the trading outlook as it was. Chief executive Bruce Thompson told the ASX's Corporate File team that, "We expect second half earnings to look like the first half. We're slightly less optimistic about the second half than we were, because there seems to be a lower level of activity worldwide." read more

AMP Banking loss widens

The loss at AMP Banking widened in the second half of 2002, though the previously announced restructure and release of capital may allow the financial services group's banking arm turn a profit in the next year. read more

Virgin Money margins improve

AMP said operating margins improved in Virgin Money, with revenues up 105 per cent and costs down 23 per cent. The joint venture with Virgin has attracted 161,000 card holders by December after about 11 months in the market. The cards are issued under a "white label" arrangement by MBNA. read more

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