Latest news (24,523 items)

and keeps the responsibility in the family

One aspect of the Mackay banking business is its insular board of directors. Richard Wallace, the chairman, Stewart Wallace and Anthony Wallace have all served extended terms on the board of directors. Richard and Anthony, both in their 50s, are currently partners of Mackay's key law firm, SR Wallace & Wallace, while Stewart, 65, looks like he's leant his name to the firm. read more

Keycorp increases dependency on Eftpos

Keycorp investors have one more reason to thank Telstra for folding the telco's Eftpos payments channel into what was a pure smart card company, as its now clearer than before that the smart card business is unbankable. read more

Adelaide gets its funding right

As noted on Friday, Adelaide Bank's retail deposits are booming, with the bank claiming to hold a 4.5 per cent share of the cash management market, or a bit less than twice the bank's share of the home loan market (where the bank was, until the last half, gaining ground). Before the bank decided to push into this market, about two and a half years ago, Adelaide had no share no cash management product, and a greater dependence on wholesale funding. read more

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