Latest news (24,963 items)

Credit cards consolidates

Westpac's level of credit card outstandings increased by four per cent, to $4.28 billion in the half year, but the level of outstandings is still 25 per cent less than the $5.69 billion portfolio at March 2002. read more

Graham Rich joins Cashcard board

To correct an error from last week it is Graham Rich, the other joint managing director of Gresham Partners and an executive director of Gresham Partners, rather than James Graham, that is joining the board of Cashcard. read more

Banks to press ahead with interchange review

Australia's big banks have informally agreed that they will require Bankcard, MasterCard and Visa to undertake a formal review of credit card interchange fees in the second half of this year, regardless of the outcome of the Federal Court case that commences later this month. read more

BankWest ahead despite provisions

Bank of Western Australia expects to achieve a better result in 2003, though the bank must make further provisions against one troubled mining loan, redundancy costs and deal with slower growth in revenues from home lending. read more

Victoria scratches at smart card tickets

Victoria's government has budgeted for the development a new public transport ticketing system over the next four years, providing $16 million over four years for range of projects relating to "enhancing" Melbourne's rail system, including the ticket initiative. read more

Citi's personal loans grow, home loans stall

As a foreign bank which compiles compliant statutory accounts but is not otherwise keen on disclosure, it's hard to tell how Citibank is travelling in the key parts of its business. Among other highlights from Citibank's accounts: read more

St George Bank picks up

St George Bank reported a sharp increase in profit in the March 2003 half that benefits from cost cuts, rising transaction fees from personal and business customers, more business lending, and, least of all, the boost to income from a home loan business that is growing well below market. read more

Losing less market share in home loans

The bank's rate of growth in housing loans picked up, but St George is still losing market share to big banks (which are growing more or less in line with system) and non bank providers. read more

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