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Returns will be lower, says IMB board 
The IMB board has warned shareholders to expect lower returns as the group prepared itself for higher capital and liquidity requirements under Basel III. This saw the Wollongong-based building society cut its dividend.
With this cut to its dividend, IMB declared a final payout of 15 cents a share ... More
Homeloans reports stronger lending but weaker bottom line
Mortgage lender Homeloans Ltd is caught between the strong growth of its branded loan book and accelerating run-off of its securitised portfolio. The result was a fall in net profit and earnings per share for the year to June.
Homeloans yesterday announced that its net profit fell 12.1 per cent ... More
Global markets still want to fund our banks
Glenn Stevens, governor of the Reserve Bank of Australia, has painted a highly positive picture of Australian banks’ strength as the RBA and Australian Prudential Regulation Authority seek to minimise local damage from overseas financial turmoil.
Testifying to the House of Representatives ... More
Fast-growing NAB pays capital penalty
With National Australia Bank’s release of its third quarter “pillar 3” disclosure on Wednesday, it is possible to undertake a comparative analysis across the Big Four banks and Macquarie Bank. Such an analysis reveals some interesting changes over the last 12 months across the banks’ lending ... More
Bank profits near boom-time levels
Profits of major banks are almost back to the levels experienced prior to the onset of the global financial crisis in September 2008, the latest overview of the industry published by the Australian Prudential Regulation Authority shows.
The major banks earned a return on assets of 1.1 per cent in ... More
ATM fees may rise for Customers
A subdued second-half profit for ATM operator Customers Limited may be a pointer to a further rise in fees, at least on independently-owned automatic teller machines, over the coming year.
Customers operates the largest ATM fleet in Australia, with 5750 terminals as of June 2011.
Company ... More
Published on Thursday, 25 August, 2011
Grimshaw ‘happy’ with low-return BOQ
It didn’t matter how many times the question was asked, incoming Bank of Queensland chief executive Stuart Grimshaw declared himself happy with the business he is taking over. He will review the group’s strategy in due course but there are no pressing issues, he says.
Bank of Queensland announced ... More
Longer loan life drives Mortgage Choice strategy
Borrowers are holding on to their home loans longer, according to broker Mortgage Choice, and this trend is having consequences for lenders and intermediaries.
The average life of the A$42.4 billion of loans on Mortgage Choice’s books has increased from 3.5 years in 2006 to a current average of ... More
Suncorp's core bank meeting targets
Suncorp Bank says it is earning a return on capital in its "core" banking business of in excess of 15 per cent, though losses from its non-core commercial banking business, which is in run off, continue to limit overall returns from the bank.
The investor presentation for the insurance and ... More
ANZ adds common equity trigger to hybrid
ANZ has added a common equity trigger to its latest convertible preference share issue (CPS3), which was launched yesterday, making the securities eligible for transition relief under the Basel III rules.
If the bank’s tier-one ratio falls to 5.12 per cent these preference shares will be subject ... More
By John Kavanagh
Published on Wednesday, 24 August, 2011
Filed under ANZ, funding, prudential, bond issues
Wide Bay seeks borrowers
Wide Bay Australia will source a higher proportion of new business from mortgage brokers in a bid to step up lending after a year of moderate growth in receivables and little growth in profit.
The Bundaberg-based building society confirmed yesterday that profit for the full year increased by two ... More
Published on Wednesday, 24 August, 2011
