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TD hybrids come to market

Increased investor demand for high-yield savings accounts, term deposits and other cash-based products has prompted deposit-takers to start innovating in a market that has long had a staid image. Investec has launched a savings account called the 32 Day Notice Account, which has elements of an ... More
Published on Thursday, 4 August, 2011

Analysts find good news in second tier

The Big Four banks’ share prices have been underperforming the overall Australian equity market for the past few months and are likely to continue to do so as the US debt crisis plays out. In the meantime, analysts have turned their attention to other financial news in recent ... More
Published on Tuesday, 2 August, 2011

‘Break up’ immaterial to NAB’s retail gains

The monthly banking statistics for June 2011 from APRA provide an opportunity for an overview of the relative gains made by National Australia Bank since the relaunch of its paid advertising in mid-February with its “break up” campaign. The campaign also generated an above-average amount of free ... More
Published on Monday, 1 August, 2011

Macquarie finds cost savings in classic banking

Macquarie Group yesterday provided an update on its earnings outlook for the year to March 2012 that analysts interpreted as being an "operational downgrade". The group told shareholders yesterday, at its annual meeting, that it "continued to expect an improved result" in the 2012 year, over ... More
By Ian Rogers Published on Friday, 29 July, 2011 Filed under Macquarie, outlook

RBA’s Stevens: no return to boom years

RBA governor Glenn Stevens has again warned that income, consumption and savings will not return to the pattern of the boom years of 1996 to 2006. In his traditional yearly speech to the Anika Foundation in Sydney yesterday, Stevens gave the RBA’s most detailed explanation yet for the “cautious ... More
Published on Wednesday, 27 July, 2011

AMP not serious about banking

AMP has welched on its commitment to use its merger with Axa to develop a banking business. Yesterday the wealth management company announced its post-merger business structure and leadership team. Banking has been tossed into the wealth management product division, although this is consistent ... More
Published on Friday, 22 July, 2011

Solid half for The Rock

Profits and business volumes at The Rock Building Society are improving for the first time in several years. Yesterday, the Rockhampton-based entity said it expects to report a “normalised underlying profit” for the year to June 2011 of A$5.2 million – up from $4.7 million in 2010. The headline ... More
Published on Monday, 11 July, 2011

Lending and leasing shine for Macquarie in latest results

Macquarie Group has continued to develop the traditional banking side of its business over the past year, with the result that previously unfashionable lending and leasing now make up almost a third of the group's operating income. Lending, leasing and margin-related income accounted for 27 per ... More
By John Kavanagh Published on Monday, 2 May, 2011 Filed under Macquarie, results