ANZ sacks two after Opes Prime review
August 22, 2008
A review of ANZ Banking Group's securities lending operations has found risk controls were inadequate in the period leading up to the Opes Prime crisis.
ANZ says provisions seen rising to A$1.2 bln in H2 (Reuters)
Reuters - ANZ bank , Australia's third-biggest lender, issued a profit warning on Monday, forecasting more than $1 billion in bad debt charges, as the global credit crisis started to hurt the country's previously buoyant banks.
Investors await surprises in Westpac earnings
Investors will be watching for surprises when Westpac releases its half year results, a week after ANZ Bank revealed nearly $1 billion in provisions against potential losses.
ANZ Bank pipped in Hong Kong bank bid
China Merchants Bank pips ANZ Bank as the preferred bidder for Hong Kong's Wing Lung Bank.
05/23/08
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Gloomy outlook for commodities
Commodities prices may drop faster next year, pressured by slumping global demand and a strengthening US dollar, according to ANZ Bank.
08/20/08
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Westpac ups its rate
Westpac raised its lending rates by 0.10 percentage points today, following the lead of ANZ Bank and NAB.
04/28/08
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Gunns shares drop on ANZ pullout reports
Gunns' shares have fallen sharply in early trade on the back of reports the ANZ Bank will not fund the controversial $2 billion Tasmanian pulp mill.
Westpac expect 8% cash earnings growth
Westpac Banking Corporation says it is on track to deliver 2008 cash earnings growth of between six and eight per cent.
ASX high at noon as Wall St soars
The Australian stock market was up at noon as News Corporation Ltd reported robust fourth-quarter and full-year results.
08/06/08
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Safe as houses: ANZ wins the tick it craves so badly
ANZ Bank was yesterday given a much-needed vote of confidence by two of the major credit agencies, after they maintained its all-important double-A rating in the wake of the bank's decision to provide an additional $1.2 billion for its bad-debt cover.
No deal: ANZ takes bailout off table
THE future of the specialised financial services provider Chimaera Capital was again called into question last night after the ANZ Bank walked away from a deal to invest $55 million in the company.
War of words over Opes will leave...
Reputations are going down with a very leaky ship, writes Colin Kruger.
ANZ shares plunge 9%
Investors have hammered ANZ Bank after it flagged $1.2 billion in bad debt provisions for the 2008 second half.
Primebrokers appoints administrators
CHRIS ZAPPONE Primebrokers Securities, a firm linked to the margin loan-hit Chimaera Capital, has entered voluntary administration.
ANZ makes Opes offer
ANZ Bank offers Opes Prime's administrators a 62-cents-in-the dollar settlement.
Babcock in Tricom recapitalisation
Investment bank Babcock & Brown says it has joined ANZ Banking Group in the recapitalisation of troubled stockbroking firm Tricom Equities.
04/08/08
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Fortescue chair loses $20m in Opes saga
Fortescue Metals Group chairman Herb Elliott appears to have lost more than half of his $38 million fortune after the Opes Prime collapse.
Beconwood skirts costs in Opes stoush
Beconwood Securities will not have to pay costs from its first legal stoush against collapsed stockbroker Opes Prime and ANZ Banking Group, even though it lost.
Australia's Commonwealth Bank eyeing BankWest: report (Reuters)
Reuters - Commonwealth Bank of Australia (CBA) , the country's No. 2 bank by assets, may offer over A$6 billion ($5.2 billion) to British bank HBOS for its Australian unit BankWest, the Australian newspaper reported on Monday.
Westpac cash profit expected to rise
Westpac Banking Corporation is expected to sidestep the bad debt troubles faced by the ANZ Bank and report a healthy rise in first-half cash profit.
Westpac Aims To Buy Way To Top In...
Bank says it's in talks to acquire smaller rival St. George, making it biggest in country by market cap.
Another pile-up as bad lending...
Mr Smith, what a mess. The ANZ Banking Group has taken a commanding lead in the race for line honours to determine the bank most likely to end the decade in disgrace.
Australia's Westpac offers $14B for...
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a $14 billion takeover offer that could lead to the biggest shakeup of Australia's banking...
Westpac approaches St. George in...
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; €9 billion) takeover offer that could be...
ANZ cuts fixed home loan rates
ANZ Banking Group has cut its fixed mortgage interest rates by up to half a percentage point.