Latest news (24,652 items)

Adelaide lowers one year rate under five per cent

Adelaide Bank has renewed its aggressive stance in the home loan market, opting for a one-year fixed rate home loan rate of 4.99 per cent, reduced from 5.39 per cent. The bank also offers a six month introductory rate of 4.49 per cent. read more

Barclays profit knocked

Barclays Bank had a rocky second half in 2002, with the pre tax profit in the six months to December 2002 falling 17 per cent to £1.45 billion compared with the half year to June 2002. read more

Barclaycard costs dent profit growth

Barclaycard, the credit card business of Barclays, also recorded a dip in profit in the half year, down to £312 million in December from £316 million in June 2002. Over the full year, Barclaycard increased pre tax profit by 22 per cent, to £615 million from £504 million. read more

Lloyds star wanes

Lloyds TSB fared worse than Barclays, with profit before tax down 63 per cent in the December 2002 half, to £1.00 billion from £1.60 billion. Over the full year, Lloyds' profit fell 18 per cent to £2.61 billion. read more

Brokers box in Wide Bay profit

The flat net profit in the December 2002 half at Wide Bay & Capricorn Building Society confirms the influence of mortgage brokers on the home loan market, and reinforces the conclusion that it is brokers, rather than the lenders, that are creaming off the profits from the home loan boom. read more

Wide Bay arbs left in the cold

Wide Bay plans to buy back up to $7 million of its preference shares as part of a capital management initiative, but won't do so at the current price. read more

Gresham sees active market

James Graham, managing director of Gresham Partners, said in an interview that, "we continue to have a very busy time across our corporate M&A business, and across our private equity and development capital business. read more

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

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