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| | The era of deregulation in the global financial system had been invalidated by the current crisis and a process of re-regulation needed to be undertaken, the former governor of the Reserve Bank, Ian Macfarlane, said yesterday. Delivering the Lowy Institute ... |
| | | Citibank has cut commercial mortgage lending and also personal instalment loans from its product offering. The bank will continue to concentrate on residential home loans and credit cards. Steve Ramage, head of mortgages, said the bank needed to invest ... |
| | | Westpac yesterday received the formal approval of Wayne Swan, Australia's Treasurer, for its planned takeover of St George Bank. The approval comes with some limp conditions that conform to Westpac's stated plans for the bank, including maintaining ... |
| | | Victoria Teachers Credit Union is relatively immune to the credit crisis, in the enviable position of holding a deposit book a fifth bigger than its lending book. Net profit increased 26 per cent from $7.9 million to $9.9 million during financial year ... |
| | | National Australia Bank chose the height of the second stage of the great credit crunch as the right time to introduce its alternative retail bank brand UBank to the Australian market. The first product for NAB's UBank is an aggressively priced three-month ... |
| | | To grab a larger slice of the mortgage manager pie, Firstfolio Limited continues the growth by acquisition strategy, taking on six businesses during financial year 2008. Firstfolio grew its lending book by a third, to $8 billion for the period, with ... |
| | | The worsening credit crunch may be about to generate a first merger of prominent commercial banks, with Lloyds TSB close to finalising terms for a takeover of HBOS. Britain's government and Financial Services Authority are encouraging the merger, according ... |
| | | A group of investors and asset consultants, sitting on a panel at an InAssociation infrastructure conference in Sydney on Wednesday, was asked to make a call on the future of the investment bank specialist funds model. They agreed it was over. The infrastructure ... |
| | | The general manager finance and tax at Wesfarmers, Luigi Mottolini, spent a good part of May and June leading a roadshow to meet with local credit investors. The aim of the meetings was to repair relations with bond portfolio managers and analysts who ... |
| | | Members Equity Bank is to be subjected to a strategic review of its direction by its four largest industry fund shareholders. Melbourne consultants LEK have been contracted by AustralianSuper, Cbus, HESTA and Host Plus in the wake of three new board ... |
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