Latest news (24,861 items)

ING Bank leaps rivals

ING Bank's sales and earnings are powering along in Australia, with the Dutch owned bank surpassing Bank of Queensland and Bendigo Bank as a force in the mortgage market in the last year. read more

Bank of Queensland slips in housing market

Bank of Queensland lost some sales momentum in the half year to February 2003 in the critical housing loan market, as the bank concentrated on driving sales through its own (expanding) network franchised bank branches, and reduced its reliance on mortgage brokers for new volume. read more

BoQ profit speeds up in February half

Thanks to the surge in loan volumes in the prior half, Bank of Queensland reported a sharp rise in profit in the February 2003 half, and an increase in the return on equity. read more

Retailers line up against Eftpos reforms

Big merchants are the prime source of opposition of the banking sector's attempt to reduce interchange fees on Eftpos payments to zero, while the consumer lobby though supportive wants additional controls and undertakings relating to fee reductions, access, and reviews. read more

Consumer lobby seeks extra Eftpos controls

The Australian Consumers Associations contends that banks have a poor record of passing on cost savings, and want the ACCC to seek undertakings from banks that they will pass on the savings. The consumer lobby also wants the ACCC to engage in price monitoring, and to adopt a formal review process. read more

MoneySwitch to tackle Eftpos acquiring

A potential entrant to the acquiring side of the debits market has emerged. MoneySwitch, a company incorporated in February this year and headquartered in offices in McMahons Point in Sydney, explained its mission in a submission to the ACCC on Eftpos reform. read more

Resimac chases capital

Mortgage funder and now aspiring mortgage broker Resimac is looking for more capital, in the wake of a shareholder agreement to buy back a quarter of the company's shares from one foundation shareholder, the state of New South Wales. read more

Liberty reports a partial profit

Accounts for two companies in the Liberty Financial group provide a window into the performance of the largest provider of sub prime home loans, though the company's controlling shareholder, Sherman Ma, says that the reports are simply those of two shell companies within the group, and that a consolidated result for the Liberty (which is privately held) won't be disclosed. read more

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