Latest news (24,991 items)

HBOS a long term holder of BankWest

BankWest chair Ian McKenzie says the HBOS offer of $4.25 a share is "constructive", and that once reviewed by PricewaterhouseCoopers, will be put to shareholders for approval. So save for a heroic discovery of additional value by PwC in the expert's report it sounds like the HBOS offer will be shepherded through shareholders meetings for approval. read more

Westpac profit basics

This is from Thursday, of course, and would have been in Friday's edition if there was one. A reminder of the headline numbers: read more

Westpac back in business

The business line dubbed "business distribution" recorded $31 million gain in net profit over the half year, to $191 million from $160 million. The business line dubbed "business products", increased profit to $56 million from $54 million. read more

Westpac business banking share contradicts market surveys

Westpac's improving share of business banking (in the middle market and below) is a favourable indicator for the bank, and one that partially contradicts the findings of one research house on the tussle for market share in business banking. read more

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

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