Compare Credit Cards
- Credit Cards Home
- Balance Transfer Rate
- Low Interest
- No Annual Fee
- Reward Credit Cards
- Business Credit Cards
- Gold & Platinum
- Debit Cards
Compare Banking
Compare Loans
Compare Insurance
- Insurance Home
- Health Insurance
- Home Insurance
- Life Insurance
- Motor & Bike Insurance
- Travel Insurance
Investment Providers
Links
Australians Put Record Amounts Into Term Deposits During 2008
Reserve Bank of Australia data shows that bank term deposits have increased by more than 50 per cent in 2008 which is the fastest growth in term deposits in nearly 20 years.
>> Read more
NAB Prices US Dollar Bond Issue
National Australia Bank, Australia’s largest bank by assets has priced a three year US Dollar Bond issue guaranteed by the Australian Federal Government. The deal priced at between 85 to 90 basis points over mid-swaps is being managed by HSBC, Merrill Lynch and RBC Capital Markets. NAB has not yet announced how much it plans to raise.
>> Read more
International Banks Beat Retreat from Australia Causing Shortfall in Australian Corporate Lending
Major international banks are scaling back their lending to Australian corporations in the wake of the global credit crisis as they retreat to their domestic markets and the Australian Federal Government loan guarantee continues to divide the banking sector.
>> Read more
Speculation Over Whether NAB Plans To Sell It’s UK Units
A report in The UK’s Sunday Times, suggested that NAB is inclined to sell of both its UK units, Clydesdale and Yorkshire Banks, after the ascension of new NAB Chief Executive Cameron Clyne who took over from predecessor John Stewart on New Year’s Day.
>> Read more
Australian Banks Minting Fees From Consumers
The Australian Prudential Regulatory Authority (APRA) published new research last week showing that in the year to June financial institutions accrued income from fees and commissions totalling A$ 22.6 billion. The amount represented at least a ten per cent increase in fee and commission based income from the previous year which amounted to A$ 20.48 billion.
>> Read more
Deutsche & Citi Dropped From Australian Interbank Rate Setting Group
The trading group of eight banks that set Australian daily interbank financing rates has dropped Citi and Deutsche Bank from its pool after credit rating agency Standard & Poor’s cut both lenders global risk ratings.
>> Read more
Class Action Lawsuit Filed Against ANZ Over Opes Prime
A class action lawsuit has been filed against Australian Banking major ANZ which is alleging that the lender failed to adequately disclose risks associated with loans to insolvent margin lender Opes Prime.
>> Read more
Australian Non Bank Lenders To Consolidate Further
The capitulation of GE Money, and the subsequent divestment of its Wizard Home Loans unit for just A$ 26 million, after having paid A$ 500 million for the business only 4 years ago suggests the outlook for non bank lenders and mortgage brokers is positively horrendous. The acquisition of Wizard by Aussie Home Loans and CBA bears the beginnings of a wave of consolidation for the industry in general.
>> Read more
NAB Loses Out In Race To Acquire Wizard Home Loans
Commonwealth Bank of Australia, together with Aussie Home Loans announced today that they were the preferred buyers for Wizard Home Loans, having beaten rival National Australia Bank in the race to acquire the non-bank lender from its parent GE, embarrassing NAB who only last week said it was in the lead and would close the deal.
>> Read more
ANZ Hit’s Out At Ratings Agencies
International credit ratings agencies are facing fresh criticism and increasing threats as corporations fund managers and investors increasingly believe that the credibility of their ratings have been destroyed in the wake of the credit crisis which to some degree has affected every corner of the globe.
>> Read more