Latest news (24,980 items)

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

Internet access excluded

The APRA data is interesting and useful and in at least one respect, deficient. The fastest growing point of access to the banking and payments system is the internet. read more

ATM market shrinks

APRA reported 12,430 ATMs at June 2002, which compares with 14,710 reported by the Australian Payments Clearing Association as of the same date. read more

ANZ hopes to slash Eftpos, ATM costs

While on the subject of Eftpos and ATM machines, ANZ Bank's chief operating officer, David Boyles last week told the CIO 2003 conference in Sydney that the bank's program to replace its fleet of 50,000 plus Eftpos terminals, as well as upgrade the switching capacity of more than 1,500 ATMs would lead to cost outcomes that were "expected to be 50 per cent of the previous environment." read more

Third party loan processors not wanted

Hunt said the bank had a variety of inefficient processes. "Any organisation that achieves the sort of growth rates we have, there are certain processes that are aging. read more

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