Latest news (24,989 items)

Kiwibank loss larger than planned

Kiwibank, the government owned entrant to New Zealand's concentrated banking market, has burned off a quarter of its start up capital less than 18 months after securing a banking licence, and after about eight months of trading. read more

Farmers cards loses market share

The Farmers' retail financial services business in New Zealand increased receivables by nine per cent in the second half of 2002, with receivables up to NZ$320 million at December from NZ$294 million at June. read more

CommSecure loss widens

The loss incurred by payments gateway and solutions provider CommSecure widened in the December half year, as revenues weakened: read more

Loyzaga looks to acquisitions

Ray Loyzaga, managing director of CommSecure, said that in spite of the losses, "its clear that the strategy we are pursuing is starting to show steady results. In terms of annuity revenue, we've seen good growth of 20 odd per cent. And it would have been a lot stronger had the markets not turned down last year." read more

ERG loses CFO

ERG has lost its chief financial officer, with the departure of Richard Howson two weeks ago. Yew Seng Kwa replaced Howson. read more

NAB simplifies business fees

National Australia Bank acknowledges that it will collect more fee revenue from small business and middle market customers from the simplification of fees on business accounts. read more

Pepper's first loan pool already delinquent

The first securitisation of home loan from sub prime, or non conforming, lender Pepper Home Loans provides a reminder of the borderline credit quality of a sizeable slice of borrowers in this sector, with more than six per cent of loans in the $184 million loan pool already behind on payments. read more

Stressed borrower ‘no drama' for sub prime pools

Pepper Home Loans couldn't be reached for comment on the delinquency pattern in their loan pool. But Alistair Jeffery, the head of rival sub prime lender Bluestone Mortgages, said "there are no dramas" in a delinquency experience of six per cent at this stage of the loan pool. read more

MasterCard doubles ad spend

MasterCard will double its marketing spend in Australia and New Zealand in a bid to boost market. MasterCard's Leigh Clapham told Reuters, "We feel that our time has come. We are increasing our marketing funding by 50 percent across Australia and New Zealand and we will maintain that level for the next three years." read more

Page 2241 of 2272 | Total articles: 24989