St George Bank is being highlighted for all the wrong reasons in the latest round of business banking customer surveys. The bank is losing share [...]
POSTED ON June 24, 2009
Seventy four per cent of business banking customers were satisfied with their main financial institution according to the latest TNS business banking customer satisfaction survey. [...]
Australia's smaller banks and non-bank lenders are demanding the government scrap the guarantee over bank borrowing and replicate the UK and Canadian alternative which is [...]
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The Reserve Bank of Australia says it is losing the ability to set interest rates. An RBA report issued yesterday says rising funding costs has [...]
Banks will not have to raise rates again, outside of Reserve Bank changes to the official cash rate, says the Reserve Bank. The RBA is [...]
The federal government is considering extra support for non bank lenders who have largely been shut out of the home lending market by the major [...]
Australians need to save more in order to ensure the ongoing strength of our big banks say bank chiefs.Cameron Clyne, chief executive of National Australia [...]
Total business loans issued in April fell 23 per cent to $27 billion from a high result of $31 billion in March.Nomura Australia economist Stephen [...]
The federal government's bank deposit and wholesale funding guarantee is an impediment to competition says Productivity Commission chairman Gary Banks."Unhitching the from the guarantee could [...]
Consumers who have a dispute with their bank or lender will lose the ability to have their dispute heard in state based tribunals such as [...]
Businesses with a tax debt and that also have a payment plan with the tax office will have the interest "remitted" over the 2010 financial [...]
The median household in Australia has debts that amount to just 8 per cent of total household assets.Claims of a debt crisis in Australia are [...]
The companies regulator, ASIC and the competition regulator, the ACCC, say they have received more than 5,000 complaints in the last few years from indebted [...]
One reason the Reserve Bank of Australia is hesitant to reduce the cash rate at present is that businesses and households might take a liking [...]
Business insolvencies are an increasingly frequent item in the daily noise of media reporting or so it would seem, but official data on the incidence [...]
Leading credit card issuers have criticised the responsible lending provisions of the proposed national consumer credit law, saying they will damage their businesses.Speaking at yesterday's [...]
Major banks are closing the gap on regional banks on measures of customer satisfaction. The average satisfaction raring of ANZ, Commonwealth Bank, National Australia Bank [...]
The board of Maroondah Credit Union yesterday said it recommended to its members that it merge with mecu, the expansionary credit union also based in [...]
Reserve Bank deputy governor Ric Battellino offered a word of caution to all the commentators offering their verdicts on the deposits and funding guarantees, AOFM [...]
Graeme Samuel, chair of the Australian Competition and Consumer Commission, said he would be "gravely concerned" about any merger that strengthens the position of one [...]
New figures to be released today from the Reserve Bank are expected to show that bank fees are growing at their fastest pace for five [...]
Banks are increasing margins on business loans to existing customers in return for a commitment to renew the finance in advance. The forward start facilities [...]
The Reserve Bank governor Glenn Stevens hinted strongly yesterday that the central bank would be cutting rates again this year, although possibly not in June. [...]
Westpac rates the lowest of the big four banks for relationship manager penetration among small business, middle market and corporate customers.East & Partners' reported yesterday [...]
Economists and financial markets expect the Reserve Bank of Australia to cut official interest rates by a further 0.25 per cent to 2.75 per cent [...]
Customer satisfaction ratings of the major banks have maintained their steady long-term upward trend, despite recent fluctuations.The latest Roy Morgan Research survey of small business [...]
The global financial crisis has killed off 159 out of about 1,000 Australian financial institutions in the last two years according to the prudential regulator [...]
Small businesses are starting to feel the bite of the recession, as the number of companies entering administration reached its highest level in 10 years.Insolvency [...]
The Reserve Bank of Australia is unlikely to cut rates any further because business confidence and economic conditions seem to be improving says Citigroup chief [...]
St George bank continued to win mortgage market share, lend more to business and grow its deposit base in the half year to March 31.St [...]
Small business are paying more in interest rates than home owners or large businesses says the Reserve Bank of Australia. The average home loan interest [...]
The chances of a cut in official interest rates in the coming months has diminished with the release yesterday of better than expected unemployment figures [...]
Aussie Home Loans is expanding its operations and looking to recruit more advisors and franchisees. Aussie has doubled monthly lending volumes to more than $2 [...]
The Reserve Bank of Australia is expected to keep official interest rates on hold at three per cent when the board meets this week. Economists [...]
Annual credit growth slowed to 4.9 per cent in March according to figures released yesterday by the Reserve Bank of Australia. Private sector credit outstanding [...]
Bankwest continues to lose retail deposits as term deposits mature and customers walk away from the Commonwealth bank subsidiary. Bankwest's retail deposits fell more than [...]
National Australia Bank chief executive Cameron Clyne has hinted that the bank may raise interest rates on mortgages outside of normal interest rate changes by [...]
ANZ Bank said it will extend its hardship package to small business customers who are experiencing difficulties making their repayments. ANZ has also committed to [...]
ANZ Bank posted a 28 per cent fall in net profit for the half year to December and warned that rising bad debt problems would [...]
Banks have not reduced interest rates for business customers at all over the last six months and have in fact increased interest rates for more [...]
The Parliamentary Joint Committee on Corporations and Financial Services' inquiry into financial products and services will include a review of banking products. Reflecting the transfer [...]
The proposed commonwealth consumer credit code will weed out many smaller lending companies and leave many people without access to any credit at all says [...]
The Reserve Bank will be forced to make big cuts to interest rates in coming months to ensure that at least some of the cuts [...]
Bank margins on low rate credit cards have blown out by 3.5 per cent since July 2007 according to data from the Reserve Bank. Margins [...]
The big four banks may be engaging in legal co-ordination of prices and rates says Graeme Samuels the chairman of the competition regulator the ACCC. [...]
ANZ, Westpac and St George Bank yesterday announced they would match Commonwealth Bank and cut the interest rates on their variable rate mortgages by 0.1 [...]
Westpac announced that it will pass on the full 0.25 per cent rate cut announced on Tuesday by the RBA to its business borrowers and [...]
The major banks will reap $800 million dollars from their decisions to hold back at least part of the Reserve Bank's 0.25 per cent rate [...]
The Reserve bank of Australia yesterday cut official interest rates by 0.25 per cent to a 49 year low of three per cent. Although banks [...]
The Reserve bank of Australia yesterday cut official interest rates by 0.25 per cent to a 49 year low of three per cent. Only Commonwealth [...]
The Reserve bank of Australia yesterday cut official interest rates by 0.25 per cent to a 49 year low of three per cent. No major [...]
It was anyone's guess as to what the decision would be proceeding today's Reserve Bank of Australia's Board Meeting. Leading economists across Australia were equally [...]
The cash rate in Australia will fall 50 basis points to 2.75 per cent on Tuesday if Alan Mitchell, economics editor of the Financial Review, [...]
Banks may not pass on the full amount of any rate cut delivered by the Reserve Bank says Westpac chief executive Gail Kelly. "The costs [...]
Banks have not added much to their margins over the course of the credit crunch says the Reserve Bank of Australia. Ric Battelino, deputy governor [...]
Official interest rates are expected to drop to 2.5 per cent by June with financial markets now expecting a cut of 0.25 per cent in [...]
Bank funding costs have eased and they are expected to pass on in full any future interest rate cuts said the governor of the Reserve [...]
The Reserve Bank governor has signalled that the central bank may wait and see the impact of recent rate cuts before making any new big [...]
Almost eighty per cent of business banking customers are satisfied with their main bank according to TNS Communications, but satisfaction levels seem to have plateaued. [...]
ANZ has announced it will increase lending to small and medium businesses by $8 billion, equal to the total amount of new lending to SME's [...]
Some businesses are paying higher interest rates on loans and overdrafts than they were last year, before the Reserve Bank started to cut interest rates.The [...]
Westpac is the world's most profitable bank according to a global survey by Boston Consulting Group. Westpac delivered a return on equity of 20.4 per [...]
Market expectations of a 0.5 per cent rate cut firmed yesterday to a 100 per cent certainty after the release of the Reserve bank Board [...]
High bank penalty fees for overdrafts, late credit card payments or direct debit dishonours could be outlawed by new commonwealth consumer rules to be introduced [...]
The bank margin on a loan to small business has increased by about 0.10 per cent as the banks have delivered less than 3 per [...]
New lending commitments increased by 3.5 per cent in December according to the Australian Bureau of Statistics. Loan refinancing, as well as borrowing for homes, [...]
Twenty five senior National Australia Bank executives have flown to San Francisco for a leadership weekend to prepare for CEO Cameron Clyne's major strategy briefing [...]
Following the one per cent reduction in the official cash rate announced by the Reserve Bank of Australia (RBA) on Tuesday, Credit Union Australia can [...]
The Commonwealth Bank has signalled that it may not pass on in full to borrowers any future rate cuts delivered by the Reserve Bank of [...]
All major banks are working to improve their service and product offerings to small business. They have cut interest rates on small business loans by [...]
Commercial borrowers are unlikely to get relief from falling interest rates any time soon, a finance company director said yesterday. Paul McCarthy, a director of [...]
A slightly improved economic outlook for Australia has caused many analysts to revise their interest rate predictions. The Reserve Bank is now not expected to [...]
Viable businesses that feel they have been treated "harshly and unfairly" by their bank should contact the government says the treasurer Wayne Swan. Banks are [...]
Further deep cuts in interest rates are needed as well as more government spending to stimulate the economy the treasury secretary Ken Henry said yesterday. [...]
Major banks warned yesterday that they may not pass on the full amount of any future rate cuts. NAB's retail banking executive general manager Lisa [...]
Almost one quarter of all BankWest customers and St George customers report that they are less satisfied with their bank since it has been taken [...]
Financial markets expect the Reserve bank to cut interest rates again next month by a further 0.75 per cent taking the official cash rate to [...]
Following today's RBA announcement to shed 100 basis points off the cash rate, to 3.25 per cent, Westpac has jumped the wagon and become the [...]
The Reserve Bank of Australia faces extreme pressure to deliver substantial rate cuts today and in next few months as the global economic crisis spreads. [...]
Small business has received average rate cuts of just 1.8 per cent since the Reserve bank began cutting interest rates in September. The RBA has [...]
Total lending to business and private individuals fell 0.3 per cent in December, well below market expectations of a 0.5 per cent rise. It is [...]
The Reserve Bank of Australia is likely to decide tomorrow to set a new 'floor' for Australian official interest rates of around 2 per cent [...]
Investors trading on the Sydney Futures Exchange yesterday estimated the chances of a 1.0 per cent rate cut next week by the Reserve Bank at [...]
With many economists tipping a rate cut of at least 0.75 percentage points in next Tuesday's Reserve Bank's Board Meeting, borrowers with a $400,000 mortgage [...]
The Reserve Bank of Australia is expected to cut interest rates three times in the next four to five months. Yesterday's inflation figures indicated that [...]
Economists are expecting the Reserve Bank of Australia to cut interest rates next Tuesday by a full one per cent despite fears inflation may not [...]
National Australia Bank may not pass on in full any rate cuts delivered by the Reserve Bank at its February meeting. Chief executive Cameron Clyne [...]
Banks are demanding that commercial real estate development projects are 75 per cent let before finance is approved. The federal government is preparing a bailout [...]
Homeowners with fixed rate loans stuck at a high interest rates should not panic and try to break out of the loan. Break fees are [...]
The government should tell banks to pass on the full amount of official rate cuts to small business says shadow treasurer Julie Bishop. Business confidence [...]
The Reserve Bank will cut official interest rates to 2.5 per cent or below next year say some economists because unemployment is expected to almost [...]
National Australia Bank will jointly develop and promote a range of new payments products and services with software developer Distra following a deal which will [...]
Banks collected $22.6 billion in fees and charges from their customers in the year to June 30, up more than $2 billion from $20.5 billion [...]
National Australia Bank is now predicting interest rates will fall further than previously expected early next year. Markets are pricing in rate cuts of 1.5 [...]
The governor of the Reserve Bank, Glenn Stevens, said yesterday that there were reasons to have "quiet confidence" about the economy and signalled that while [...]
The Reserve Bank's interest rate rises early in 2008 are being blamed for weak results in the September quarter national accounts. Non-farm gross domestic product [...]
The Reserve Bank of Australia cut official interest rates to their lowest point in more than seven years yesterday. The RBA board cut another full [...]
Standard variable mortgage interest rates could fall to five per cent within six months, taking them to the lowest level since 1964 when they were [...]
The Reserve Bank is expected to cut interest rates by at least 0.75 per cent tomorrow as expectations rise of zero or even negative economic [...]
Most banks and card issuers have not decreased their credit card interest rates at all as the Reserve Bank has decreased rates by two per [...]