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Extra capital, deposit growth allows Mackay latitude

As noted yesterday, Mackay Permanent Building Society's half year report, published through the ASX on Friday, was light on for details such as asset quality and capital resources. The society clarified some of these details, again via the ASX, yesterday. read more

Toronto Dominion pulls back from Australia

Toronto Dominion is planning to scale back its businesses in Australia, with a significant part of the Canadian bank's loan book for sale, and a warning over the weekend by management that it would either sell or shut the TD Waterhouse broking business unless it makes a profit this year. read more

Mackay falters further

Mackay Permanent Building Society's new management can't be far off taking a fresh look at the north Queensland bank's positioning and business model, in light of another contraction in half year profit. read more

and keeps the responsibility in the family

One aspect of the Mackay banking business is its insular board of directors. Richard Wallace, the chairman, Stewart Wallace and Anthony Wallace have all served extended terms on the board of directors. Richard and Anthony, both in their 50s, are currently partners of Mackay's key law firm, SR Wallace & Wallace, while Stewart, 65, looks like he's leant his name to the firm. read more

Keycorp increases dependency on Eftpos

Keycorp investors have one more reason to thank Telstra for folding the telco's Eftpos payments channel into what was a pure smart card company, as its now clearer than before that the smart card business is unbankable. read more

Adelaide gets its funding right

As noted on Friday, Adelaide Bank's retail deposits are booming, with the bank claiming to hold a 4.5 per cent share of the cash management market, or a bit less than twice the bank's share of the home loan market (where the bank was, until the last half, gaining ground). Before the bank decided to push into this market, about two and a half years ago, Adelaide had no share no cash management product, and a greater dependence on wholesale funding. read more

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