Latest news (24,963 items)

Returns decline

The bank's return on equity fell to 20.3 per cent in the March 2002 half, down from 24.8 per cent in the September 2002 half, and also down from 21.6 per cent in the March 2002 half. read more

Credit quality improves

The market flap in February and March over the ANZ supposed credit losses in the US energy sector haven't come to pass, with improving indicators on credit quality in the current half. read more

Card strategy ‘evolving'

The pre tax profit of consumer finance, which includes the credit card business, fell to $47 million in March 2003, down from $71 million in September 2002 and from $79 million in March 2002. read more

Credit card market share mixed

In Australia, credit card outstandings grew by six per cent, to $4.11 billion in the March 2003 half; and by 11 per cent in New Zealand. On Reserve Bank data which shows card outstandings increased eight per cent in the six months to February 2003 that suggests ANZ lost market share in the half year. read more

Losing market share in mortgages

After a flat profit in the September 2002 half, ANZ seems to have decided to abandon the chase for volume and instead manage for profit in the mortgage business in Australia and New Zealand, read more

Personal banking project taking time

The pre tax profit in personal banking Australia increased to $188 million in March 2003, up from $185 million in September 2002 and from $169 million in March 2002. read more

National takes $46ml provisions on Kings Bros

National Australia Bank yesterday said it would take a provision of $46 million on leases and other loans of $132 million to the King Bros Bus Group. The bank appointed receivers and managers to the company two weeks ago, while the principals cannot be located. read more

Catuity ousts Mac Smith

Catuity yesterday decided not to renew the contract of its executive chairman and former chief executive, David Mac Smith, who may now leave the company altogether after 10 years. read more

Virgin credit card on a slow burn

Virgin group is still in the early stages of preparations for a planned entry to Australia's credit card market, and there's no prospect of a launch next month as reported in Fairfax newspapers yesterday and today. read more

Aussie, Virgin waiting for credit card standard

Aussie Home Loans is another potential issuer if credit cards in its own right. However, both are waiting for the Australian Prudential Regulation Authority to publish final prudential standards for the regulation of specialised credit card institutions. read more

Netherlands watchdog tackles card fees

The competition watchdog in the Netherlands, Nederlandse Mededingsautoriteit, has raised concerns over the monopoly position of banks in settings fees for credit card and debit card purchases. read more

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