Country: Australia

Mac Bank continues offshore expansion

(Australia/UK) Macquarie Bank has acquired UK water utility South East Water (SEW) from French company Bouygues for A$948 million.SEW is...

Mergers & Acquisitions

CBA goes lite on EFTPOS terminals

(Australia) Commonwealth Bank has launched its Paylite EFTPOS terminal targeting smaller businesses that process under $100,000 in card transactions each...

Operations, Transaction Banking

ANZ steps up with $1 billion issue

(Australia) ANZ’s Stapled Exchangeable Preferred Securities (ANZ StEPS) offer closed fully subscribed and the bank has issued $1 billion of...

ANZ gets new CIO

(Australia) ANZ has named Mike Grime as successor to high profile CIO David Boyles.Grime will join the bank from Standard...

Executive Changes

NAB issues Tier One security

(Australia) National Australia Bank has announced it will issue STG400 million (A$972.8 million) in Tier One Trust preferred securities.The security...

Foreign Exchange, Investment

Suncorp loses Trowbridge, gains Tasmania

(Australia) Queensland bank and insurer Suncorp said its head of general insurance John Trowbridge will be stepping down to be...

Executive Changes, Joint Ventures

Mac Bank to better last year’s profit

(Australia) Macquarie Bank chief executive Allan Moss has told an audience in Hong Kong that the bank is set to...

Financial Results

RBA no card sharks, court rules

(Australia) The Reserve Bank of Australia has seen off a legal challenge to its credit card reforms by plastic money...

Regulatory & Government

ANZ, Reserve Bank of Australia, Visa

S&P keeps the faith in CBA restructure

(Australia) Ratings agency Standard & Poor’s has come out in support of Commonwealth Bank’s ability to transform its service culture...

CBA, Standard & Poors

CBA cultural transformation unveiled

(Australia) Commonwealth Bank will shed 3,700 back office jobs, redirect its usual project spend of $600 million and spend another...

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