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ANZ shows benefits of Asian strategy 
More than half of ANZ’s lending growth in the June quarter came from its Asia Pacific, European and American (APEA) businesses, giving the bank a good source of diversification away from the low-growth Australian lending market.
ANZ’s chief executive, Mike Smith, highlighted a number of ways in ... More
Published on Monday, 22 August, 2011
TDs on the way down
Term deposit rates have come down by around 30 basis points since the start of the month, as deposit-takers adjust to movements in wholesale markets and take advantage of easier competitive conditions.
Infochoice data shows that 22 deposit-takers have cut their six-month rates, with the average ... More
Published on Monday, 22 August, 2011
Fraser opts for simplicity in account-switching recommendations
Bernie Fraser has rejected a proposal for full account number portability in the Australian banking market as being too costly and complicated, and has instead recommended an account-switching authorisation system using a low-cost electronic “mailbox”.
The proposed mailbox system is modelled on ... More
Published on Monday, 22 August, 2011
Westpac searches for cost cuts
Westpac plans a fresh campaign to lift productivity and cut costs across its business – an initiative that may add to costs rather than cut them in the short term.
At an investor briefing, in connection with its trading update for the June quarter, Gail Kelly, the bank’s managing director, said ... More
Write-offs dent Westpac’s profit
A higher impairment charge dented the June quarter profit of Westpac, with the bank taking the opportunity to tidy up it problematic assets, which it says it has done in the third quarter of previous years.
The A$770 million of lending losses recognised in the quarter were more than double those ... More
Published on Wednesday, 17 August, 2011
Analysts keeps Bendigo and Adelaide Bank on hold
Analysts were unimpressed with Bendigo and Adelaide Bank’s earnings report this week, with reports sighted leaving the stock on “neutral” or “hold” recommendation.
The bank reported cash earnings of $336.2 million for the year to June – up 15.5 per cent on the 2009/10 result.
Cash earnings per ... More
Dividends trump capital at Commonwealth
Controversies over bank profits are never far away in Australia, and the latest profit reported by Commonwealth Bank might be one capable of reviving this debate.
For all the talk of the "challenging" conditions CBA reported a return on equity on a cash basis in the second half of 20 per cent, a ... More
Published on Thursday, 11 August, 2011
NAB will maintain aggressive stance
National Australia Bank’s chief executive, Cameron Clyne, is not deterred by the worsening situation in the financial markets, or the weaker economic outlook, and will maintain the bank’s pursuit of market share in the Australian retail and business banking markets.
NAB issued a June quarter ... More
Published on Wednesday, 10 August, 2011
Filed under NAB
