K62 Finance

Apple Pay to take bite at big three banks

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Original article by James Eyers
The Australian Financial Review – Page: 1 & 30 : 10-Feb-17

Macquarie Bank and ING Direct customers will have access to the Apple Pay service by the end of February 2017, but the ANZ Bank is the only "big four" bank that currently offers it. The head of Apple Pay, Jennifer Bailey, warns that the Commonwealth Bank, Westpac and National Australia Bank risk losing customers unless they embrace the global payments system. ANZ Bank has indicated that about 26 per cent of its customers use Apple Pay, while Bailey notes that Australians are now the biggest users of the service.

CORPORATES
APPLE PAY, APPLE INCORPORATED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MACQUARIE BANK LIMITED – ASX MBL, ING DIRECT, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Analysts suspect $65bn lift by big four banks has run its course

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Original article by Daniel Palmer
The Australian – Page: 21 : 13-Jan-17

Australia’s four major banks have enjoyed double-digit rises in their share prices since Donald Trump won the US presidential election. Their combined market capitalisation has risen by $A65bn in the last two months, prompting analysts to question whether the rally will continue. Jarrod Martin of Credit Suisse notes that shares in the "big four" are now close to fair value, although the firm is upbeat about the outlook for the banks. It anticipates earnings growth of four per cent and has upgraded its share price targets.

CORPORATES
CREDIT SUISSE (AUSTRALIA) LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, SHAW AND PARTNERS LIMITED, BELL POTTER SECURITIES LIMITED

Resurgent $A tipped to reach US78c mark

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Original article by Timothy Moore
The Australian Financial Review – Page: 29 : 13-Jan-17

The Australian dollar peaked at $US0.7472 during the first press conference of US president-elect Donald Trump. Rodrigo Catril of National Australia Bank notes that the Australian dollar has performed better against its US counterpart than other key currencies so far in 2017. Westpac has identified the $US0.7525 level as the next target for the Australian dollar, while the ANZ Bank says it could potentially rise to $US0.78.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Mining states hit by sharp drop in home loan activity: AFG

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Original article by Michael Roddan
The Australian – Page: 15 : 12-Jan-17

Listed mortgage broker Australian Finance Group has reported 9.9 per cent growth in home loan lodgements nationwide in calendar 2016. However, there was a 16 per cent downturn in loan lodgements in Western Australia, while lodgements fell by 18 per cent in the Northern Territory. Meanwhile, AFG CEO Brett McKeon says the WA Government’s decision to temporarily increase the first-home owners’ grant by $A5,000 for new homes is unlikely to significantly boost construction activity in the residential property market.

CORPORATES
AUSTRALIAN FINANCE GROUP LIMITED – ASX AFG, REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA, DIGITAL FINANCE ANALYTICS

Mortgage payments steady as rates rise

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Original article by Michael Bennet
The Australian – Page: 17 : 11-Jan-17

Data from Deutsche Bank shows that Australians’ home loan repayments now comprise around 17 per cent of their income, which is consistent with the average over the last three decades. The figures also show that mortgage payment account for 63.6 per cent of Sydney borrowers’ weekly income, compared with 45.3 per cent in Melbourne and just 27.3 per cent in Perth. Meanwhile, Paul Bloxham of HSBC says the residential construction boom is nearing its peak.

CORPORATES
DEUTSCHE BANK AG, HSBC AUSTRALIA HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS, SUNCORP GROUP LIMITED – ASX SUN, ING DIRECT, DIGITAL FINANCE ANALYTICS

NAB client data sent to adult website owner

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Original article by James Frost
The Australian Financial Review – Page: 17 : 10-Jan-17

An error at National Australia Bank (NAB) has resulted in the transfer of the personal details of 60,000 clients to David Weissenberg’s Real Assets Limited. The business owns domain names of a sexual nature such as sexpornhost.com, porncocktail.com, supersleazy.com and adultorientatedmaterial.com. NAB has reported that Weissenberg responded positively to the bank’s request to correct the error.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, REAL ASSETS LIMITED

Banks a mixed bag for investors

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Original article by Michael Bennet
The Australian – Page: 15 : 9-Jan-17

Morgan Stanley estimates that the ANZ Bank achieved a total shareholder return of 15.7 per cent in calendar 2016, ahead of National Australia Bank with 12.9 per cent. Westpac and the Commonwealth Bank boasted total shareholder returns of 3.2 per cent and 1.9 per cent respectively. The Commonwealth Bank was the top performer over a three-year period, with a TSR of 24.6 per cent. Meanwhile, Macquarie Group forecasts that National Australia Bank will perform best in 2017, with a TSR of 12.8 per cent.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MORGAN STANLEY AUSTRALIA LIMITED, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, BANK OF QUEENSLAND LIMITED – ASX BOQ, STANDARD AND POOR’S ASX 200 ACCUMULATION INDEX, REGAL FUNDS MANAGEMENT PTY LTD, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, MACQUARIE GROUP LIMITED – ASX MQG, MORNINGSTAR PTY LTD, CLSA AUSTRALIA PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED

$A one tweet away from a tumble, says Westpac

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 20 : 9-Jan-17

Modelling by Westpac suggests that the Australian dollar is about eight per cent below "fair value" at present. Westpac’s Robert Rennie warns that the dollar is vulnerable to another sell-off if US president-elect Donald Trump prompts a trade war with China. Meanwhile, Westpac expects commodity prices to fall in 2017. The bank also anticipates that Australia’s cash rate will remain unchanged while there will be two rate rises in the US.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD

Big four looking good on capital

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Original article by Tony Boyd
The Australian Financial Review – Page: 40 : 5-Jan-17

Australia’s major banks are unlikely to be affected by a dispute between the European banks and the Basel Committee on Banking Supervision. Predictably, the European banks are resisting the committee’s stricter capital requirements. The committee stated on 4 January 2017 that aid the regulatory reforms would be delayed as more time is needed to finalise some of their aspects. Unlike the European banks, the big four Australian banks have sufficient levels of common equity tier 1 capital to meet the committee’s new requirements.

CORPORATES
BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, DEUTSCHE BANK AG, SOCIETE GENERALE SA, UNICREDIT SPA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, FITCH INVESTORS SERVICE INCORPORATED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

ANZ leads in the big four investing game

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Original article by Tony Boyd
The Australian Financial Review – Page: 40 : 4-Jan-17

The ANZ Banking Group is selling its 20 per cent stake in the Shanghai Rural Commercial Bank for $A1.8 billion. The transaction will have a positive effect on the bank’s common equity tier 1 capital ratio, raising it to the highest level among Australia’s big four banks. Shareholders have reasons to be satisfied. The bank is likely to increase its return on equity.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, ESANDA FINANCE CORPORATION LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, DBS GROUP HOLDINGS LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA