Please note that as of August 2012, The Bank Investor site is no longer being updated. Australia and New Zealand's best analysis of the banking and finance industry can be found at Banking Day.
Revenue growth is an elusive commodity in the financial services industry at the moment, but Westpac is betting it can boost revenue by getting more of its banking customers to buy products in fast-growing wealth management sectors.
Brad Cooper, the head of Westpac wealth management division BT
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Westpac has launched an issue of subordinated notes, seeking to raise A$500 million in tier two capital. The notes, which will be listed, will pay 2.75 per cent over the 90-day bank bill rate.
With the 90-day bill rate around 3.5 per cent, the notes will pay around 6.25 per cent for the first
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Deutsche Bank reaffirmed its Buy recommendation on Bank of Queensland last week, after BOQ announced the sale of a portfolio of non-performing loans.
In February, BOQ had announced plans to sell A$230 million of commercial property loans. At the end of June it said the sale would not go ahead,
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National Australia Bank may finally earn a return on a speculative, 17-year old investment in a technology company, if a decision by the US Court of Appeals stands.
CLS Bank, which clears many foreign exchange transactions, will have to negotiate a royalty with NAB-controlled Alice Corporation
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Revenue growth is an elusive commodity in the financial services industry at the moment, but Westpac is betting it can boost revenue by getting more of its banking customers to buy products in fast-growing wealth management sectors.
Brad Cooper, the head of BT Financial Group, Westpac's wealth
... More
Citi Research has upgraded ANZ and Commonwealth to a Buy because they offer sustainable dividends and attractive yields.
Citi's view, in a report issued in Friday, is that dividend sustainability has taken on greater importance for investors in an environment where there is little prospect of
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One of ANZ's early investments in China looks stranded, with the bank announcing yesterday that it will not support a capital raising for Bank of Tianjin.
The decision means the bank's stake in Bank of Tianjin will fall to 17.6 per cent from 20 per cent, ANZ said. ANZ will instead "prioritise
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Adept Solutions, a fringe payments provider that specialises in pre-paid cards (ASX code AAO), is in the market for $2.9 million in new capital through a rights issue and placement.
The funds will be used to grow sales and improve the product offering developed by EMerchants over 12 years and
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Macquarie Securities is the second equity researcher in as many weeks to upgrade National Australia Bank. Its change has been prompted by a positive view on the changes the bank is making to its United Kingdom operations and the fact that NAB has been the most aggressive among the big four banks
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ANZ may have to incorporate its retail banking operations in Singapore and shift capital there.
The Monetary Authority of Singapore (MAS) last week outlined plans to require foreign banks "that are important to the domestic market" to incorporate their retail operations. The good news is that ANZ
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IMB shareholders have sold down the building society's stock over the past month, giving the thumbs-down to a buyback plan that the IMB board announced at the end of May.
IMB has a hybrid structure; it is a mutual approved deposit-taking institution and also a public company limited by guarantee
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Citi has changed its recommendation on National Australia Bank, calling the stock a Buy based on its share price underperformance compared with its big bank peers. NAB stock has traded about six per cent below its peers this year.
In a note to clients, Citi said: "We believe that with NAB's
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