Latest news (24,887 items)

Banks lose patience with retailers

The momentum for the banks' agreement on zero interchange arose from a consensus among banks but not a consensus on the industry working group that there was no longer any point managing the debate internally, and that it would be more effective to thrash out the issues via the ACCC. read more

What the stakeholders say

• David Bell, executive director of the Australian Bankers Association, said banks had been working "cooperatively to achieve reform to Eftpos. It's just that in the last few days the Australian Retailers Association chose not to proceed further with those reforms." read more

ATM & Eftpos statistics

As pointed out yesterday, the Australian Prudential Regulation Authority data on ATM and Eftpos points of access, published on Monday, paint a different picture to those published by the Australian Payments Clearing Association. read more

McPhee, Daniel promoted at Adelaide Bank

Jamie McPhee, now head of lending, will become chief general manager, operations. McPhee will oversee the day-to-day operations of the bank, manage business development and also take responsibility for, Leveraged Equities, the bank's margin lending business. read more

Colonial backs Flexirent Capital

Flexirent Capital won development capital support from two Colonial managed private equity funds. Colonial's Diversified Private Equity Fund invested $12.6 million, while Colonial First State Private Capital invested $3.2 million. read more

1,750 fewer branches

APRA counted 3,280 bank branches at June 2002, compared with 4,710 counted by the Reserve Bank in 2001. read more

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