BANKS AND BANKING – AUSTRALIA

NAB leads $8b mortgage bond rush as investor demand builds

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Original article by Jonathan Shapiro
The Australian Financial Review – Page: 22 : 13-Mar-15

There has been a spike in activity in Australia’s residential mortgage-backed securities market in 2015, with issuance in the year to date topping $A8.2bn. This compares with just $A4.8bn during the same period in 2014. National Australia Bank is the latest player to venture into the securitisation market, issuing $A1.75bn worth of such securities with a triple-A rating

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BANK OF QUEENSLAND LIMITED – ASX BOQ, RESIMAC LIMITED, SUNCORP GROUP LIMITED – ASX SUN, CREDIT UNION AUSTRALIA LIMITED, MOODY’S INVESTORS SERVICE INCORPORATED

CBA to feast on growing SME pie

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Original article by Misa Han
The Australian Financial Review – Page: 29 : 12-Mar-15

Macquarie Group is upbeat about the outlook for the Commonwealth Bank of Australia (CBA), lifting its share price target from $A99 to $A101. Michael Wiblin of Macquarie believes that CBA in particular is in a strong position among the four major banks to increase its share of the small and medium enterprise banking market. He notes that the ANZ Bank and National Australia Bank seem to be losing market share to CBA in this sector

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, ONDECK, KABBAGE, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, CITIGROUP PTY LTD

Multibrand strategy baffles bank customers

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Original article by James Eyers
The Australian Financial Review – Page: 15 : 10-Mar-15

A Customer Owned Banking Association (COBA) submission to the financial system inquiry criticised Australia’s major banks for failing to adequately disclose their ownership of multibrands. A survey carried out by Essential Research on behalf of COBA found that nearly 75 per cent of respondents said the banks fail to do so, while more than 50 per cent were not sure which bank owns sub-brands such as Bank of Melbourne or Bankwest

CORPORATES
CUSTOMER OWNED BANKING ASSOCIATION, BANK OF MELBOURNE LIMITED, BANK OF WESTERN AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ST GEORGE BANK LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, UBANK, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, GROWTH SOLUTIONS GROUP PTY LTD, ONEPATH AUSTRALIA LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Macquarie seals $5.1b aircraft deal

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 23 & 27 : 5-Mar-15

Australian-listed Macquarie Group will partially finance the acquisition of an aircraft fleet via a $A500m capital raising. The group will pay $US4bn ($A5.1bn) for the fleet of 90 passenger airplanes, which were sold by the Canada Pension Plan Investment Board and Terra Firma. Macquarie’s aircraft leasing business has made a number of acquisitions in recent years, and now boasts a fleet of 220 aircraft

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, TERRA FIRMA CAPITAL PARTNERS LIMITED, CANADA PENSION PLAN INVESTMENT BOARD, MACQUARIE AIRFINANCE LIMITED, SUMITOMO MITSUI FINANCIAL GROUP INCORPORATED, ROYAL BANK OF SCOTLAND GROUP PLC, MORGAN STANLEY AND COMPANY INCORPORATED, AWAS AVIATION CAPITAL LIMITED, ARNHEM INVESTMENT MANAGEMENT PTY LTD, BOEING COMPANY, AIRBUS SAS, DEALOGIC (AUSTRALIA) PTY LTD, AIRLINE BUSINESS, GENERAL ELECTRIC COMPANY, GENERAL ELECTRIC CAPITAL AVIATION SERVICES, AERCAP HOLDINGS NV, BOEING CAPITAL CORPORATION, QANTAS AIRWAYS LIMITED – ASX QAN, AIR FRANCE SA, ETIHAD AIRWAYS, AMERICAN INTERNATIONAL GROUP INCORPORATED

Bank price bubble fear

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Original article by Patrick Commins
The Australian Financial Review – Page: 23 : 27-Feb-15

Minack Advisors’ Gerard Minack says valuations in Australia’s banking sector would be severely affected by a sharp downturn in the nation’s economy. He also warns that bank stocks could face a major bubble as investors increasingly turn to equities in search of better yields than those available from cash investments such as term deposits. The shift to equities is likely to accelerate amid expectations of further official interest rate cuts

CORPORATES
MINACK ADVISORS PTY LTD, MAPLE-BROWN ABBOTT LIMITED

Big four banks have large cross-sell potential

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 23-Feb-15

A Roy Morgan Consumer Single Source Survey has found that the "share of wallet" of each of Australia’s four major bank has increased over the last decade. The ANZ Bank’s share of wallet rose by 5.2 per cent to 28.8 per cent between January 2004 and December 2014, while the Commonwealth Bank of Australia’s share rose by 4.3 per cent to 34.2 per cent. For accounts/deposits, CBA has the highest share of their customers’ wallet with 60.3 per cent (up 7.1 per cent over the last 10 years), followed by Westpac with 55.3 per cent (up three per cent)

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

Calls for wider inquiry into financial planning

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Original article by Clancy Yeates, Adele Ferguson
The Australian Financial Review – Page: 13 & 16 : 23-Feb-15

The Australian Government is likely to face increased pressure to hold an inquiry in the wake of a new controversy involving financial planners. It has been revealed that 750 customers of National Australia Bank have received compensation for poor advice from its investment advisers over the last five years. Several senators have urged the Government to undertake a royal commission, while Australian Consumers’ Association spokeswoman Erin Turner says there is need for greater transparency in dealing with such scandals

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIAN CONSUMERS’ ASSOCIATION, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, JBWERE LIMITED, MERITUM FINANCIAL GROUP PTY LTD

Roy Morgan announces 2014 winners of Banking and Finance Satisfaction Awards

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Feb-15

Roy Morgan Research announced the winners of its 2014 Customer Satisfaction Awards for the banking and finance industry on 18 February 2015. P&N Bank was named the Bank of the Year, while the Commonwealth Bank won the award for Major Bank of the Year. Bendigo Bank was named the Business Bank of the Year, Defence Service Homes Insurance took out the award for General Insurer of the Year and ESSSuper received the award for Industry Superannuation Fund of the Year

CORPORATES
ROY MORGAN RESEARCH LIMITED, P&N BANK, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BENDIGO BANK, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, DEFENCE SERVICE HOMES INSURANCE SCHEME, ESSSUPER, GREATER BUILDING SOCIETY LIMITED, PEOPLE’S CHOICE CREDIT UNION, CBHS FRIENDLY SOCIETY LIMITED, INSURANCELINE HOLDINGS PTY LTD, NRMA LIMITED, REST SUPER PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, PLUM FINANCIAL SERVICES LIMITED

Westpac leads big four in business customer satisfaction and advocacy

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Feb-15

A Roy Morgan Research Business Single Source survey has found that the overall satisfaction level of the business customers of Australia’s four major banks fell to 65.6 per cent in January 2015. This compares with 68.6 per cent in September 2014. Westpac retained the highest satisfaction rating at 70.5 per cent, ahead of the Commonwealth Bank on 66.4 per cent. However, smaller banks continue to outperform the "big four" in terms of business customer satisfaction, increasing their satisfaction level from 69.4 per cent to 70.6 per cent

CORPORATES
ROY MORGAN RESEARCH LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, SUNCORP GROUP LIMITED – ASX SUN

CBA shares forecast to push $100 within a year

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Original article by Clancy Yeates, James Eyers
The Australian Financial Review – Page: 16 : 13-Feb-15

Commonwealth Bank of Australia (CBA) shares peaked at $A93.96 in early February 2015. While the stock has since retreated slightly, some analysts are bullish about it. Macquarie Group has lifted its 12-month share price target to $A99 in the wake of CBA’s 2014-15 interim profit result, while Credit Suisse has a target price of $A96. However, PM Capital’s Uday Cheruvu says CBA’s earnings growth outlook does not justify its high forward price-earnings multiple

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE GROUP LIMITED – ASX MQG, CREDIT SUISSE (AUSTRALIA) LIMITED, PM CAPITAL LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, GOOGLE INCORPORATED