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Westpac looks for growth from BT Financial Group 
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 ... More
Westpac's subordinated notes will pay over six per cent
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 ... More
Westpac targets growth through higher wealth cross-sell
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
What the analysts are saying: ANZ and CBA upgraded on dividend sustainability
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 ... MoreWhat the analysts are saying: UBS says look behind the cash earnings facade
UBS banking analyst Jonathon Mott has challenged the major banks' over-use of below-the-line items in their financial reports, arguing that the practice overstates the banks’ true earnings picture. The banks make adjustments to their statutory net profit, taking items below the line and referring ... MoreWhat the analysts are saying: asset re-pricing will boost banks' second half
Mortgage and other loan re-pricing will add about seven basis points to margins in the September half, according to Deutsche Bank analyst James Freeman. A Deutsche review of the sector, published last week, includes a forecast for a much stronger September half for the major banks. Margins were ... MoreWhat the analysts are saying: business lending recovery will lift banks
Sell-side analysts have taken a more positive view of the business credit market following the release of the latest lending data. Business credit, reported by the Reserve Bank, rose by 0.3 per cent in February and increased by 0.7 per cent in both March and April, lifting annual growth to 2.3 ... More
By John Kavanagh
Published on Tuesday, 12 June, 2012
Filed under analysts, ANZ, CBA, NAB, Westpac, Suncorp, Bendigo and Adelaide, BoQ, business lending
Banks fail to meet new profit reporting rules
The major banks have failed to meet their obligations for reporting non-statutory earnings figures in the half-year results presentations they have issued over the past few weeks.
In December, the Australian Securities and Investments Commission issued updated guidance (RG 230) for the use of ... More
By John Kavanagh
Published on Monday, 21 May, 2012
Filed under ANZ, Westpac, NAB, investor returns, shareholder oversight
'Volatile' markets income worries analysts
Sell-side banking analysts are not convinced about the big banks' reliance on income from volatile markets business and the latter's ability to produce income growth in the March half-year. UBS analyst Jonathon Mott said in his commentary on the big banks' first half results: "We had concerns ... MoreWhat the analysts are saying: Westpac on Hold, unsure about ANZ
The majority of sell-side analysts left Westpac on Hold or Neutral after the bank released its half-year results last week, while ANZ's results prompted a more mixed response. Six of nine commentaries seen by Banking Day have Westpac on Hold or Neutral. Two are recommending the stock as an ... MoreANZ and Suncorp grow mortgage share
ANZ and Suncorp are two lenders growing at above system in the home loan market over recent months, with Westpac being the lender showing a notional loss in market share.
Monthly data compiled by the Australian Prudential Regulation Authority shows ANZ growing at around twice the level of the ... More
By Ian Rogers and John Kavanagh
Published on Monday, 2 April, 2012
Filed under ANZ, Suncorp, Westpac, home lending
