Banks News

Interest rates and inflation to continue to rise

Wednesday January 30, 2008
National Australia Bank's (NAB) chief economist Alan Oster says the Reserve Bank of Australia will lift official interest rates and inflation will keep rising in the latest business survey released by Australia's biggest bank.

ANZ to launch Mobile Banking

Tuesday January 29, 2008
The ANZ is about to launch mobile banking giving millions of Australian's 24 hour access to their bank account from anywhere in the world.

Overseas Students 'left Out'

Tuesday January 29, 2008
A WOLLONGONG researcher is lobbying banks and the Federal Government to highlight the inefficiencies of the new skilled graduate visa, introduced in September to address the nation's skill shortage.

Centro Can Be Saved, Says Ceo

Friday January 25, 2008
GLENN Rufrano, the man charged with turning around the fortunes of the Centro Properties Group, has ruled out a fire sale of assets, confident he can persuade the company's banks to extend a February 15 repayment deadline on $3.9 billion of debt.

Centro Set To Win Reprieve

Friday January 25, 2008
THE new boss of Centro Properties, Glenn Rufrano, has ruled out any fire sale of assets before meeting the troubled company's banks to persuade them to extend the February 15 repayment deadline on its $3.9 billion debt.

Bank of China latest to be hit by Sub-prime losses

Monday January 21, 2008
The South China Morning Post reports that the Bank Of China could be posting red figures in its balance sheet after bank sources confirmed the significant write down of US sub-prime mortgage investments.

Australian banks slow to pay interest but quick to hike rates

Friday January 18, 2008
Australian Banks are always keen to put the interest rate up on home loans, sometimes, like the last interest rate rise for example, before any official interest rate rise by the Reserve Bank of Australia.

Consumers taking out fixed home loans

Thursday January 17, 2008
Figures released by the Bureau of Statistics revealed that one in four new home borrowers took out a fixed interest home loan in November.

Have The Banks Been Oversold?

Wednesday January 16, 2008
Troubles in the US subprime market have rippled through to Australia. The biggest local casualty has been the shopping centre investor Centro Properties Group, which has been struggling to refinance its debts. However, even our banks have suffered, their shares discarded by nervous investors who wonder if they might become the next casualties.

ATM fees on the rise

Wednesday January 16, 2008
From next month, ANZ bank and Commonwealth Bank customers will be paying a $2 fee if they decide to use another banks Automatic Teller Machine (ATM).

Banks Treat Swan Like A Mug: Liberal

Tuesday January 15, 2008
NEW evidence of an inflation surge is pointing to fresh pressure on official interest rates, as the Federal Opposition accuses Treasurer Wayne Swan of letting the banks treat him like a "mug" over this month's rises.

Sting In The Tail For Loans

Tuesday January 15, 2008
IT CAN cost thousands of dollars for those unhappy with their mortgage to change lenders - and the fees can be worse for those the traditional banks reject.

Sting In The Tail Strikes When Changing Loans

Tuesday January 15, 2008
IT CAN cost thousands of dollars for those unhappy with their mortgage to change lenders - and the fees can be worst for those the traditional banks reject.

Another rate hike looms

Monday January 14, 2008
With the major banks and other leading lenders all lifting their home loan interest rates last week, or earlier in some cases, there seems to be no respite for borrowers.

Commonwealth Bank to open branch in Vietnam

Monday January 14, 2008
The Commonwealth Bank of Australia has announced it will be opening its first branch in Vietnam.

Bank Loan Exit Fees For Review

Monday January 14, 2008
THE Federal Government will consider forcing banks to reduce the exit fees they charge borrowers for switching home loans as it steps up its tussle with the banking industry over rising interest rates.

Beat The Banks At Their Game

Sunday January 13, 2008
Don't rush to fix your mortgage rate following the latest rate rises.

All Major Banks and Lenders Lift Rates

Saturday January 12, 2008
The Westpac and St George have raised their home loan interest rates joining the ANZ, NAB and Commonwealth Banks in charging a higher home loan interest rate than the official rate set by the Reserve Bank.

Banks In Lockstep On Rates

Saturday January 12, 2008
THE two remaining banks not to raise mortgage rates in the past fortnight lifted them yesterday, dousing speculation one might hold rates steady to attract disillusioned customers.

Don't Blame The Banks - They're Just Doing Their Job

Thursday January 10, 2008
Wayne Swan is naive to demand an explanation from ANZ for their recent mortgage rate rise ("ANZ rates row with Treasurer escalates", January 9). He clearly lacks a basic understanding of the recent turmoil in the credit markets and its implications.

Banks Still Winning The Financial Battle

Wednesday January 9, 2008
Round One of 2008, and the little Aussie battler is knocked to the ground once again.

Commonwealth Bank lifts home loan rates

Wednesday January 9, 2008
The Commonwealth Bank of Australia (CBA) has joined the National Australia Bank and the ANZ in lifting the interest rate on Home Loans today.

Australian Dollar heading towards US.90 cents barrier

Wednesday January 9, 2008
The Australian dollar (AUD) was trading at USD$0.8836/40 at lunchtime today after the Australian Bureau of Statistics (ABS) released figures showing that retail trade figures and job vacancies were up.

Major banks set to follow

Wednesday January 9, 2008
Australia's leading banks are set to follow the lead set by the ANZ and the National by increasing their variable home loan mortgage rates.

Stock market closes down

Wednesday January 9, 2008
The Australian share market closed slightly down after Wednesday's trading with the benchmark S&P/ASX200 index down 40.4 points at 6087.7 while the All Ordinaries lost 46.2 points to 6159.5.

How do I choose the best home loan

Tuesday January 8, 2008
Choosing the best home loan product depends on what your financial situation is. What is best for Mr Black is not necessarily the best home loan product for Mr White.

National and ANZ raise home loan interest rates

Monday January 7, 2008
The National Australia Bank and Australia & New Zealand Banking Group Ltd. have raised the interest rates on mortgages.

Quick tip on buying a property at Auction

Sunday January 6, 2008
Many people go to house auctions, some to buy and some to just watch and get an idea what houses in the area go for. You may find yourself at a property auction wanting to buy a home or an investment property.

Nab Home Rise To Trigger Soaring Rates

Friday January 4, 2008
AUSTRALIAN home borrowers are set to be hit with another interest rate rise, as the big banks try to recover soaring costs caused by the global credit crunch.

Westpac Opens Shanghai Branch

Thursday January 3, 2008
WESTPAC has eschewed the Chinese expansion policies of its two main domestic rivals, Commonwealth Bank and the ANZ, which are concentrated on minority stakes in local banks, and will focus on selected use of its own brand name in the country.

Centro enjoys slight rise

Wednesday January 2, 2008
Centro Properties securities closed up three cents today as it announced that several groups were interested in its assets.

Westpac opens bank branch in China

Wednesday January 2, 2008
The Westpac Banking Corporation Ltd has opened a new branch in China. The bank already has a presence in Asia with offices in Beijing and Hong Kong. The new branch in Shanghai was confirmed after the China Banking Regulatory Commission approved a financial license to the Australian bank.

Westpac looking for new chief of Retail Banking

Tuesday January 1, 2008
Mrs Gail Kelly who was announced as Westpac's next Chief Executive Officer from 1 February 2008, and already has to find a new head for the retail bank after Mike Pratt resigned just before Christmas.

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