A survey conducted by a leading mortgage broker suggests that investors returning after their summer holidays took the largest share of the home loan market since 2004.
>> Read more
A group of managed investment and superannuation funds with $260 million in assets, once run by bankrupt investment company Trio Capital are to be closed down.
The six investment funds which include the Astarra Startegic Fund, a fund which invested $118 million in an opaque company registered in the British Virgin Islands, are being forced to wind themselves up following action by the administrator of Trio, PPB.
>> Read more
Australian investment banking major Macquarie Group has acquired the research and investment banking operations of Luxembourg based private bank Sal Oppenheim.
Macquarie had recently acquired the private bank’s derivatives business in December last year.
>> Read more
Bancassurance group Suncorp-Metway, and regional lender Bendigo and Adelaide Bank are set to combine their ATM networks, giving customers of both banks a wider choice of machines.
>> Read more
The head of a leading online foreign exchange broker says he believes that Australia is on the verge of a coming online foreign exchange trading boom, and sees tremendous potential for growth of investments in currency trading in the country.
>> Read more
The chairman of Commonwealth Bank of Australia (CBA), John Shubert, has added his voice to the growing chorus that is warning against excessive banking regulations.
>> Read more
Mike Smith, chief executive of Australian banking major ANZ, says he hopes the lender will be “substantially bigger” within two years, and says he believes that Australian financial institutions could play a much larger role in the global economy going forward.
>> Read more
Federal Treasurer Wayne Swan has said that other Australian banks should follow NAB’s lead and lower fees and charges further.
>> Read more
Australians continue the trend of shifting away from using credit cards into debit cards whilst making new purchases. Over all credit card debt however is expected to increase as optimism over the economic recovery increases.
>> Read more
Australian’s have been taking advantage of half century low interest rates, and government subsidies, with the number of mortgages taken on the increase, according to research from a credit provider.
>> Read more