K62 Finance

Smaller banks continue to lead in customer satisfaction

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Sep-15

Roy Morgan’s Single Source survey has revealed that the satisfaction level of the big four banks’ personal banking customers in the six months to July 2015 was 81.3 per cent, which was up 0.8 percentage points from July 2014 (80.5 per cent). Despite this improvement, the banks other than the big four still have a clear lead with 86.0 per cent satisfaction in July 2015, which was up 0.5 percentage points from July 2014 (85.5 per cent). Among the big four banks, CBA narrowly regained top position from the NAB for overall satisfaction with 82.3 per cent (NAB 82.2 per cent). Among smaller banks, Teachers Mutual Bank remained the best performing bank overall with 95.1 per cent of its customers satisfied. It is worth noting that Bank of Melbourne (90.3 per cent satisfaction) and St George (84.5 per cent) were both clearly ahead of Westpac (80.1 per cent).

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, TEACHERS MUTUAL BANK LIMITED, BANK OF MELBOURNE LIMITED, ST GEORGE BANK LIMITED

Death puts big chill on philanthropy

roymorgansocial Leave a comment

Original article by Mike Smith
The Australian Financial Review – Page: 28 : 4-Sep-15

Research by fund manager Perpetual has found that Australians enthusiastically support charity when they are alive but rarely leave anything to charity in their wills. Only 7.5 per cent left anything to charity, compared with 89 per cent who gave while alive. This disconnect is being explored by financial advisers and lawyers ahead of Include a Charity Week, which starts on 6 September 2015.

CORPORATES
PERPETUAL ASSET MANAGEMENT LIMITED, WALTER AND ELIZA HALL INSTITUTE OF MEDICAL RESEARCH

Investor rate rises prompt owner-occupiers to switch

roymorgansocial Leave a comment

Original article by Clancy Yeates
The Australian Financial Review – Page: 3 : 3-Sep-15

A growing number of home loan customers are alerting banks they have changed their status from investor to owner-occupier. While they had no incentive to do so before, banks are now charging investors higher interest rates for the first time since the 1990s. The industry says the trend may involve thousands of customers, complicating the compilation of official statistics.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, YELLOW BRICK ROAD HOLDINGS LIMITED – ASX YBR, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD

ANZ-Roy Morgan Australian Consumer Confidence Consolidates

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Sep-15

ANZ-Roy Morgan Consumer Confidence rating for Australia rose by 0.3 per cent to 113.3 in the week ended 30 August 2015. This is the third consecutive week where confidence has remained above its long term average. Views on "economic conditions in the next five years" were up 1.8 per cent when compared with the previous week. The outlook for "economic conditions in the next year" fell 4.9 per cent, declining to the lowest level in eight weeks. Consumers’ views of their "financial situation in the next year" rose 3.9 per cent when compared with the previous week.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Landmark case could cost Visa $20m in fines

roymorgansocial Leave a comment

Original article by Patrick Durkin
The Australian Financial Review – Page: 6 : 2-Sep-15

The Australian Competition & Consumer Commission (ACCC) has reached a confidential settlement with Visa. The company was accused of abusing its market power. The settlement will be considered for approval by Federal Court judge Michael Wigney on 3 September 2015. Penalties of up to $A20 million are believed to be sought by the ACCC.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA, VISA INTERNATIONAL, FEXCO INVESTMENTS AUSTRALIA PTY LTD, PURE COMMERCE PTY LTD, GLOBAL BLUE HOLDINGS AB, PLANET PAYMENTS, JP MORGAN AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, TRANSURBAN GROUP LIMITED – ASX TCL

Falling profits hit economy

roymorgansocial Leave a comment

Original article by Jacob Greber, Vesna Poljak
The Australian Financial Review – Page: 1 : 1-Sep-15

Company profits fell 1.9 per cent in the three months to June 2015, the fifth straight quarter of profit declines, prompting analysts to conclude the Australian economy is shrinking for the first time since the election of the Abbott Government. Despite fears new concerns about the economy could weigh heavily on investor sentiment, Treasurer Joe Hockey insisted there were positive signs and that the prospect of tax reform and the China free-trade agreement would lift spirits.

CORPORATES
DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUREAU OF STATISTICS, BLOOMBERG FINANCIAL SERVICES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, CITIGROUP PTY LTD, RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX

ANZ-Roy Morgan Chinese Consumer Confidence Declined to a New Low

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 28-Aug-15

The ANZ-Roy Morgan China Consumer Confidence index fell by 2.5 points to 138.5 in August 2015, which is its lowest level on record. The number of respondents who said that their families are "better off" financially in August 2015 compared with the same time last year fell by 2.3 percentage points to 40.7 per cent. Meanwhile, the number of respondents who expect the Chinese economy to have "good times" in the next 12 months fell by 1.7 percentage points to 57.4 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Big business will have to pay for ASIC

roymorgansocial Leave a comment

Original article by Patrick Durkin
The Australian Financial Review – Page: 1 : 28-Aug-15

The Australian Securities & Investments Commission would be funded by a user-pays system under a plan proposed by the Federal Government. Big business, banks and the financial services sector would carry the biggest burden under the plan, with a maximum levy of $A320,000 a year on companies with a market capitalisation of more than $A15 billion. A discussion paper to be released by Assistant Treasurer Josh Frydenberg sets a deadline of 9 October 2015 for submissions.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN BANKERS’ ASSOCIATION, ASX LIMITED – ASX ASX, UNITED STATES. FEDERAL RESERVE BOARD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, SUNCORP GROUP LIMITED – ASX SUN, WESTFIELD CORPORATION – ASX WFD, TRANSURBAN GROUP LIMITED – ASX TCL, AMP LIMITED – ASX AMP, BRAMBLES LIMITED – ASX BXB, AMCOR LIMITED – ASX AMC

Crowdfunding gathers impetus with investors

roymorgansocial Leave a comment

Original article by Su-Lin Tan
The Australian Financial Review – Page: 38 : 27-Aug-15

Property crowdfunding is still a novelty in Australia. In the US, $A1.42 billion has been raised for property investments. CrowdfundUp’s founder Jack Quiqley told a Property Council of Australia breakfast in Sydney on 26 August 2015 that property equity crowdfunding gives retail investors an opportunity to enter the property market with a small sum of money.

CORPORATES
CROWDFUNDUP PTY LTD, PROPERTY COUNCIL OF AUSTRALIA LIMITED, LESTER GROUP LIMITED, REA GROUP LIMITED – ASX REA

The top 20 postcodes at risk of mortgage default

roymorgansocial Leave a comment

Original article by Jonathan Barrett
The Australian Financial Review – Page: 3 : 27-Aug-15

Mortgage arrears are at below usual levels, according to Fitch Ratings. The worst performing suburbs are in low socioeconomic areas or in places reliant on single industries, such as tourism. With interest rates at record lows, the main reasons for falling behind in mortgage payments are loss of job, relationship breakup and unexpected expense. Budgewoi, on the Central Coast of New South Wales, was the worst postcode, Mackay in Queensland the worst region and Tasmania the worst state.

CORPORATES
FITCH RATINGS LIMITED