Latest news (24,991 items)

Retail banking holds back BankWest

BankWest had poor six months in the period to December 2002, compared with the profit in the first half of 2002. The bank's weaknesses, though, are not confined to business banking and a few dud loans as reported elsewhere BankWest's consumer bank reported an atrocious profit during the latest half. The highlights: read more

Mortgage growth leads sector

The bank may have the fastest growing mortgage book of any bank in the country. Housing loans managed by the bank increased 11.5 per cent in the six months to December 2002, to $11.5 billion December 2002; and by 22.8 per cent over the full year. read more

Consumer profit tanks

Whether all that home lending is leading to profits down the track is doubtful as profits from consumer banking dived in the second half. read more

Lite card finds a niche

BankWest's Lite MasterCard is finding a niche after entering the market in the middle of 2002. The bank reported credit card advances at December 2002 of $310 million, up 30 per cent on card advances of $239 million in June 2002 and up 42 per cent on December 2001. read more

Homeloans profit falls

Homeloans Limited, a Perth-based mortgage manager, reported a lower profit in the half year to December 2002: read more

Cabcharge margins improve

The innovator in payments surcharging in Australia, taxi payments provider Cabcharge, squeezed higher margins out of its near monopoly (in the sense of collecting its commission) on card-based and voucher payments in taxis. read more

NAB in retreat at top end of town

National Australia Bank yesterday provided a picture of their conservative stance at the top end of the market over the last year or so, a period in which the bank reoriented its portfolio toward higher rated credits, lost its appetite for project and structured finance and dispensed with experienced staff. read more

Biggest bank ranks third and fourth

Though already known from research by East & Partners and Greenwich, Ian Scholes reminded investors that the bank ranks third in penetration of the corporate banking market, third in structured finance and fourth in transactional banking. read more

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