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Compare Insurance DealsLatest Australian Finance News on Friday, July 3rd 2009
International Kangaroo Bond Issuers Find Australian Debt Market Increasingly Expensive
International issuers from Asia, Europe and the US are finding the costs of issuing Australian dollar denominated debt known as "kangaroo bonds" are rising as a result of having to compete against Triple A rated sovereign guaranteed debt being issued by domestic Australian banks.
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Westpac Expects Further Pressure On Loan Portfolio
Australian banking major Westpac Banking Corporation has said that it expects to see further pressure on its consumer loan book as rising unemployment takes its toll and causes credit impairments to rise.
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Suncorp Finally Names New Chief Executive
Regional lender and bancassurance group Suncorp-Metway Lts has announced the appointment of Patrick Snowball as its new chief executive. Mr. Snowball a former executive with UK insurance giant Aviva plc, will begin his tenure with Suncorp, Australia’s fifth largest lender on the 1st of September and also joins the group’s board.
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ANZ In Advanced Negotiations To Acquire Five Asian Units From RBS
Australian banking major Australia & New Zealand Banking Group (ANZ) is thought to be keen on acquiring the operations of quasi nationalized UK bank Royal Bank of Scotland’s (RBS) operations in at least five countries in the Asia region as the lender splits up its regional assets in order to make the sale more attractive for potential bidders, according to a report by Bloomberg.
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CBA’s Internet Banking Facility Breaks Down
Commonwealth Bank of Australia’s internet banking facility NetBank broke down on Monday and was not available to the lenders customers for a few hours on yesterday as a result of "technical issues" the bank said.
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