From credit cards to debit cards...
Posted by admin in Credit Card News, Debit Cards on 04 29th, 2010 | Comments Off
AUSTRALIANS’ love affair with credit cards is waning as people switch to using cash and debit cards. Reserve Bank of Australia statistics show credit card use has dropped almost 17 per cent in the past five years and now accounts for just under 42 per cent of all card transactions. Debit... 
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Aviva cost savings emerge for NAB...
Posted by admin in Banks on 04 12th, 2010 | Comments Off
National Australia Bank is expecting to extract more “synergies”, meaning cost savings, from its takeover in late 2009 of Aviva, the Australian wealth management platform business purchased from the firm’s UK-based parent. In the course of an interview with Business Spectator, published on Friday,... 
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Good times sting as interest rates rise...
Posted by admin in Banks, Interest Rates, Money on 04 7th, 2010 | Comments Off
BOOMING house prices contributed to the Reserve Bank’s decision to boost the cash rate to 4.25 per cent yesterday, with most economists warning several more rate rises are likely this year. In a widely-anticipated move, the central bank notched up its fifth 25 basis-point rate hike in... 
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Debt stress on the rise...
Posted by admin in Banks, Debt, Money on 04 6th, 2010 | Comments Off
DEBT stress has risen to levels not seen since September 2008, with one in five Australians finding it hard to make repayments, a survey says. Veda Advantage’s biannual Australian Debt Study reveals one in five Australians with debt are finding it difficult to make repayments or unsure how they... 
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2020 vision for HSBC...
Posted by admin in Banks, Money on 04 6th, 2010 | Comments Off
The appetite of foreign banks for investment in meaningful distribution capacity in Australia ebbs and flows. In the case of HSBC, it is flowing again.  The Sydney Morning Herald reported that HSBC is working on a program of opening between five and 10 branches a year between 2010 and 2020. The bank’s... 
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