Oz bank fees at record A$7.8 billion
(Australia) - Australian banks enjoyed a record A$7.8 billion in fee income in 2002, according to the Reserve Bank of Australia.
The figure, up from 10 percent on 2001, was driven largely from the consumer side due to an increase in personal debt levels through mortgages, personal loans and credit cards.
Business bank fees were up only 6 percent as a result of the fierce competition among banks for corporate business.
Business bank fees were up only 6 percent as a result of the fierce competition among banks for corporate business.
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