Personal Loans Australia News

NAB keeping quiet on UK banks sale - Jan 06, 2009
National Australia Bank (NAB) is keeping mum over whether it will offload its UK assets as new chief executive Cameron Clyne prepares to update the market on the bank's strategic direction...

GMAC no longer sole GM car financier - Jan 05, 2009
GMAC will no longer have exclusive rights to provide low-interest loans to people who buy General Motors Corp...

Loan books are cruising for a bruising - Dec 23, 2008
WHILE the Commonwealth Bank has been busy putting out spot fires after fumbling its $2 billion capital raising last week, bad debts on its books have piled up faster than expected...

Commonwealth, Merrill brawl over $2b bungle - Dec 18, 2008
THE Commonwealth Bank and Merrill Lynch were last night locked in a multimillion-dollar brawl over the embarrassing fiasco that forced the bank to scrap a $2 billion capital raising and then replace it with a cut-priced deal at a lower cost...

Sidestep the credit crunch - Dec 17, 2008
AUSTRALIANS are inherently optimistic people - and waiting in trepidation for the arrival of a global economic tsunami, while speaking in hushed tones about the possibility it will sweep away our jobs, simply doesn't suit us...

Mortgage broking firm operator jailed - Dec 16, 2008
The operator of a Victorian finance and mortgage broking firm has been jailed for four years after being found guilty of charges that flowed from an Australian Securities and Investments Commission investigation...

Swan gets ready to raise cash - Dec 15, 2008
THE first use by the banks of the Federal Government's wholesale funding guarantee should comfortably pave the way for the federal Treasury to raise new debt to support a further stimulus package to help to prevent the country going into recession...

Credit to the mutuals - Dec 11, 2008
With institutions putting a squeeze on personal loans, it's good to

have a customer-friendly alternative...

Banks told to show their fees at ATMs - Dec 11, 2008
THE COST of withdrawing money from an ATM owned by a bank other than your own will, from March, have to be displayed on the screen before the transaction...

Buy now, suffer later: how banks cash in on credit-card battlers - Dec 10, 2008
CONSUMERS are racking up more than $1 billion in cash advances on their credit cards in a single month, marking a 14 per cent increase on the same time last year...

ANZ to cut up to 800 jobs by end of year - Dec 08, 2008
The ANZ Bank will cut up to 800 jobs before the end of the year following an announcement to staff.

The announcement was made in Melbourne by ANZ chief executive Mike Smith on Friday, ABC reports...

Get in the loop - Dec 08, 2008
The prepaid card that helps consumers set spending limits is challenging its credit and debit rivals...

Credit card rates fail to show big falls - Dec 04, 2008
THE four major banks have marginally cut the interest charged on most credit card accounts since the Reserve Bank began lowering rates in September...

Home buyers save hundreds, but will they spend it? - Dec 03, 2008
AUSTRALIA'S home buyers will save hundreds of dollars on their mortgages in the lead-up to Christmas after the Reserve Bank cut interest rates to their lowest level in seven years...

Silver lining in dark clouds - Dec 02, 2008
THE economic crisis is producing a new round of winners and losers as the Reserve Bank slashes interest rates for home owners, consumer prices continue to fall, and pensioners and families line up for cash bonuses...

ANZ holds highest credit exposure - Nov 27, 2008
ANZ Banking Group has emerged as having the highest level of on-balance sheet credit exposure of any major Australian bank, as the sector prepares for a tougher credit cycle...

Aussie dollar to hit 47 US cents: bank - Nov 26, 2008
The Australian dollar will hit an all-time low of 47 US cents by the middle of next year, a major French bank says...

ANZ still circling Suncorp - Nov 25, 2008
A POSSIBLE sale of Suncorp's banking and wealth management businesses remains on the cards despite an upbeat forecast yesterday that its bank division is weathering the strains caused by the global financial crisis...

Aussies pay now, buy later: analysts - Nov 24, 2008
One of the world's biggest credit card companies says Australians are borrowing wisely.

But other analysts say personal debt repayments are rising sharply because retailers are struggling to sell interest-free period financing...

Hot or cold but never just right - Nov 24, 2008
A year ago Australia boasted a Goldilocks economy - not too hot and not too cold. When the porridge heats up it causes inflation and when it's cold it heralds recession...

Cash is king as freeze hits - Nov 20, 2008
Earlier this month the Reserve Bank announced it was expanding its repurchase operations to include some forms of commercial debt...

Citi staff caught in jobs whirlwind - Nov 19, 2008
AUSTRALIAN staff at Citigroup are the latest to bear the brunt of sackings in the banking sector, in a sign of the mounting toll of the global financial crisis...

Westpac pushes its friendly face into clear view - Nov 17, 2008
HAVING a tilt at the banks for charging high fees is the kind of advertising usually associated with challenger brands like the "Dragon", not one of the big four...

Bleak Friday - Nov 17, 2008
AMP Financial Services will cut around 200 jobs across its business, joining groups including ANZ and the new St George/Westpac entity, which are also expected to announce significant redundancies in the lead up to Christmas...

CBA to take $1b hit over bad debts - Nov 14, 2008
THE failures of Allco Finance Group, ABC Learning Centres and the giant US investment bank Lehman Brothers could add $1 billion in bad debt charges to the books of the country's largest lender, the Commonwealth Bank, next year...

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