BANKS AND BANKING – AUSTRALIA

NAB cold on Adani’s Carmichael

roymorgansocial Leave a comment

Original article by Amanda Saunders, Ben Potter
The Australian Financial Review – Page: 8 : 3-Sep-15

National Australia Bank is reported to have ruled out investing in Adani’s $A16 billion Carmichael coal project in Queensland. Adani responded by saying it had never approached NAB for funding. Meanwhile, announcing a 15.4 per cent return on its portfolio, Future Fund chairman Peter Costello said the fund would continue to invest in companies where there was an investment case, whether they were mines or banks supporting mines.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ADANI MINING PTY LTD, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MINERALS COUNCIL OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, GREENPEACE, BANK OF TOKYO-MITSUBISHI LIMITED, WHITEHAVEN COAL LIMITED – ASX WHC, NEWCASTLE CITY COUNCIL

Council tells big four banks don’t bring coal to Newcastle

roymorgansocial Leave a comment

Original article by Amanda Saunders, Ben Potter
The Australian Financial Review – Page: 1 : 27-Aug-15

The Minerals Council of Australia has called the City of Newcastle’s decision to dump its holdings in banks that finance fossil fuel projects a "pointless sham" and urged it to support the local economy. The New South Wales city is home to the world’s biggest coal port. Mining’s direct spend in Newcastle is about $A1.8 billion a year, rising to $A5.9 billion when the greater Hunter region is taken into account. The divestment decision was supported by Australian Labor Party and Australian Greens councillors.

CORPORATES
NEWCASTLE CITY COUNCIL, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NEW SOUTH WALES MINERALS COUNCIL, AUSTRALIAN BANKERS’ ASSOCIATION, RESPONSIBLE INVESTMENT ASSOCIATION AUSTRALASIA, ME BANK

Aussies using only their Mobile or Tablet to bank triples in 3 years

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 24-Aug-15

A Roy Morgan Single Source survey has found that an estimated 1.1 million (5.8 per cent of) Australians use only their mobile phone or tablet to conduct banking activities in an average four week period. In three years, the number of Australians doing "mobile-only banking" has tripled. This means they do not use any other banking channel, such as website, branches, adviser/banker or the telephone, to deal with their bank. By June 2015, 33 per cent of Australians conducted internet banking using a mobile phone or tablet (app) in an average four week period. This has resulted in a group of people that only deal with their banks via a mobile or tablet. As assumed, younger generations take up digital channels at higher rates than older ones, with close to one out of ten people under 34 years old doing "mobile-only banking".

CORPORATES
ROY MORGAN RESEARCH LIMITED

Big four banks mauled in bear market as capital rules bite

roymorgansocial Leave a comment

Original article by Clancy Yeates
The Australian Financial Review – Page: 14 : 24-Aug-15

Shares in Australia’s major banks continue to be under pressure. Since the beginning of 2015, they have lost more than $A85 billion in their combined market value, or more than 20 per cent. Shares in the ANZ Banking Group declined 23.9 per cent from their April peak of $A37.25. Investors worry about the bank’s exposure to Asia and to Australian mining companies.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, CADENCE CAPITAL LIMITED – ASX CDT, BELL POTTER SECURITIES LIMITED, ALPHINITY INVESTMENT MANAGEMENT PTY LTD

Westpac takes tougher line on interest-only mortgages

roymorgansocial Leave a comment

Original article by Clancy Yeates
The Australian Financial Review – Page: 16 : 17-Aug-15

Westpac will apply new standards to interest-only mortgages. The bank told brokers that borrowers will now have to show that they will be able to service an interest-only loan after the interest-only period had ended. The bank will also reduce the maximum interest-only period for owner-occupier home loans from 15 years to 10 years.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, STANDARD AND POOR’S ASX 200 INDEX

CBA to cut lending for new homes

roymorgansocial Leave a comment

Original article by Michael Bleby
The Australian Financial Review – Page: 10&8 : 10-Aug-15

The Commonwealth Bank of Australia plans to introduce restrictions on lending to first-home buyers and investors for property purchases in greenfield housing developments. The bank told brokers that the approval of finance for buyers of land lots would be delayed until all preliminary work on the project has been completed. Developers worry that the plan, if implemented, would have a negative impact on the housing sector.

CORPORATES
URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA (VICTORIA), COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, FRASERS AUSTRALAND PTY LTD, HOUSING INDUSTRY ASSOCIATION LIMITED

Big banks make overtures to home buyers

roymorgansocial Leave a comment

Original article by Duncan Hughes
The Australian Financial Review – Page: 48 : 6-Aug-15

Australian lenders are actively targeting the owner-occupier segment of the residential property market, due to new restriction on lending to property investors. Westpac-owned regional banks are offering a range of incentives for owner-occupiers, while some smaller lenders are reducing their loan-to-value ratios in a bid to gain market share from their larger peers.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, CAPITAL HOMELOANS PTY LTD, BLUEBAY HOME LOANS PTY LTD, LIBERTY FINANCIAL PTY LTD, MORTGAGE AND FINANCE ASSOCIATION OF AUSTRALIA

Mobile banking tipped to wipe 600 branches

roymorgansocial Leave a comment

Original article by James Eyers
The Australian Financial Review – Page: 14 : 3-Aug-15

A UBS report forecasts that the growing shift to the use of mobile banking services will result in a 5.6 per cent reduction in the number of bank branches globally. Australian bank executives who participated in the UBS survey expect local bank branch numbers to be slashed by 11 per cent in coming years, which would equate to 603 branches. The survey also forecasts that the proportion of banking transactions carried out using mobile technology will rise from 25 per cent to 46 per cent in the next three years.

CORPORATES
UBS AG, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, SCENTRE GROUP – ASX SCG, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, NAB VENTURES

ANZ offers women free super advice

roymorgansocial Leave a comment

Original article by Ruth Liew
The Australian Financial Review – Page: 3 : 29-Jul-15

It is estimated that Australian women who work full-time are paid about $A15,000 less each year than their male peers. Women also tend to have about 50 per cent less in superannuation upon retirement. The ANZ Bank has launched initiatives aimed at addressing this imbalance. Female customers whose super balance is less than $A50,000 will be offered free financial advice. ANZ’s female employees will also be paid an additional $A500 in super each year.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Westpac’s $1m-a-day IT glitch

roymorgansocial Leave a comment

Original article by James Eyers, Clancy Yeates
The Australian Financial Review – Page: 1 & 6 : 28-Jul-15

The Commonwealth and ANZ banks increased their mortgage interest rates for property investors in late July 2015, while cutting fixed interest rates for owner-occupiers. However, Westpac and National Australia Bank currently have a single reference rate for both types of customers, which has forced the latter to increase interest rates for both. Westpac’s IT systems do not allow it to charge different interest rates at present, which is said to be costing it about $A1.15m each day.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, BANK OF MELBOURNE LIMITED, ST GEORGE BANK LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSSIE HOME LOANS LIMITED, DEUTSCHE BANK AG, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY