Australian-owned Bank (493 items)

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Suncorp hikes variable rates in slowing mortgage market

These are "sobering times" in the banking sector, David Carter, chief executive officer, banking and wealth at Suncorp says."I suspect that credit growth is slowing," Carter told Banking Day last week.Variable interest rates on all new and existing investor home loans, will increase by 0.12 percentage points from early July, Suncorp announced on Friday.ANZ, on the other hand, dropped variable rates. read more

Mutuals rattled amid S&P ratings clutter

Around a dozen mutual banks or credit unions, including one ASX listed bank, find their debt securities ineligible for use in repurchase operations with the Reserve Bank of Australia as of yesterday, thanks to an S&P Global Ratings downgrade that yanked the credit ratings of this group one notch lower.Quick punditry by sell-side analysts on the debt side settled on the smaller, and mostly mutual ADIs as the sub-set of Australian banks whose cost of funds in institutional markets may be most affected by the ratings jolt. read more

Maestros evade S&P ratings razor

Navigating fraught terrain, S&P Global Ratings yesterday spared all the major banks and six lesser Australian banking names from its epic ratings downgrade that embraces 23 entities, most ADIs and a handful of non-banks. S&P's sparing of the major banks is one conundrum for a banking sector under ever closer scrutiny.As recently as seven or eight weeks ago, S&P planned to feature all four of Australia's major banks in the near sector-wide reset one notch lower of rated Australian banks. S&P sets out the macro risk in Australia plainly, saying the country's banking sector faces "an increased risk of a sharp correction in property prices and, if that were to occur, a significant rise in credit losses." read more

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