Latest news (24,984 items)

Direct deposits growing fast

The high interest St George "direct" deposit product is growing quickly, and faster than the rate of growth of the other leader in the direct deposit space, ING Bank. read more

Users pays on transaction accounts

Customers might be turning to the direct saver account option, but from next month many more customers may pay extra for straightforward transaction banking. read more

Commercial banking improves

The bank's estimate of its market share of business banking increased to 5.2 per cent at February 2003 from 4.9 per cent at August 2002 and 4.5 per cent at February 2002. read more

Superbank capital confirmed

St George disclosed that the joint venture bank with Foodstuffs in New Zealand has start up capital of $34 million. The joint venture, known as Superbank, has one product (a savings account), for which sales are said to be ahead of the business plan. read more

JP Morgan making losses on broking

Investment bank JP Morgan reported mixed fortunes in Australia in 2002, winning one third more in market share in the equities business but making half as much money. read more

Aiming for returns in excess of 20 per cent

Taking a consolidated view of the performance of the JP Morgan Chase group in Australia, Corea said, "we're returning something like 18 per cent on attributed capital in Australia. And by anyone's standards, that's not a healthy result. We aim to get that to the mid twenties, and we are pretty much on track to do that if we continue the way we're going in the firs quarter, and that's true on a global basis as well as on a local basis." read more

Interstar accelerate with fast loans

Mortgage provider Interstar is writing an increasing proportion of its business as low doc, or "fast" loans in which the lender makes few checks of a customer's financial position and instead relies on their own certification of their capacity to repay a loan. read more

Cosmos seeking capital

Point of sale systems provider, payments processor and aspiring billing services provider Cosmos managed to have its shares restated on the Australian Stock Exchange yesterday, having filed audited accounts, and a revised 4B with the exchange. read more

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