National Australia Bank
Credit slowdown squeezes earnings
A GLOOMY picture of falling banking sector earnings is emerging in the wake of National Australia Bank's shock move to set aside $830 million to cover investments linked to the US subprime housing loan crisis.
NAB stock slumps as it takes A$830m writedown on US debt
National Australia Bank stunned investors yesterday by taking an extra A$830m (£399m) provision against investments backed by US residential mortgages.
Moody's downgrades NAB's outlook
Ratings agency Moody's Investors Service has downgraded its outlook on National Australia Bank Ltd's credit rating to negative, from stable.
NAB boss to go
John Stewart pays price for the group's badly-handled disclosure of its $830 million write-offs and its $600 million profit warning.
Westpac's ray of light
Westpac has so far managed to avoid big problem credit exposures, and should it successfully swallow St George, will become Australia's biggest bank.
Best of the big banks
So far, in this first anniversary week of the subprime implosion, Westpac has proved itself most adept among its peers at managing risk.
Attack of the acronyms
Just how exposed are our financial institutions to CDOs, CLOs ABSs and CDSs? And what will the fallout be?
NAB raises home loan rates
National Australia Bank has lifted its standard variable mortgage rates by 15 basis points.
NAB's Write-Down May Hurt Future Funding
National Australia Bank could face higher funding costs after the bank shocked market participants with a write-down worth US$796.1 million, blaming the global credit crunch and slumping U.S. housing sector.
All eyes on oracle of Martin Place
Are the big banks in for more strife or are better times around the corner? All eyes will be on the Commonwealth Bank's chief, Ralph Norris, on Wednesday when he unveils its annual profit. Danny John reports.
Banks play catch-up
Westpac and National Australia Bank will raise interest rates on variable home loans by 0.15% by tomorrow.
Westpac and NAB play catch-up
WESTPAC and National Australia Bank are expected to add to the pressure on home owners and businesses as early as tomorrow as they prepare to catch up with the latest rises in...
RBS in talks to sell Australasian...
Royal Bank of Scotland is in talks with National Australia Bank to sell ABN Amro's corporate and investment banking operations in Australia and New Zealand. Australia's biggest...
Stocks to watch
Stocks to watch on the Australian stock exchange at noon:
Stewart's steady hand on tiller has...
IT WAS classic John Stewart. Having sent out signals, deliberate or otherwise, in the past 18 months that five or so years would be enough at the helm of National Australia...
NAB lifts rates to 9.46%
The National Australia Bank has lifted its variable mortgage interest rates by 0.1 percentage points, raising its standard variable home loan rate to 9.46%.
Australian stocks plunge after bank makes bad loan provisions; index drops 3.4 percent
Australia's main stock index recorded its largest one-day fall in six months on Friday after one of the country's biggest banks announced additional losses linked to the global credit crunch.
Australia's CBA Takes Flyer On ABN Amro Assets
Following National Bank of Australia's withdrawal from the bidding process, rival Commonwealth Bank enters into exclusive negotiations with Royal Bank of Scotland.
NAB ups standard variable rate to 9.46%
National Australia Bank has lifted its variable mortgage interest rates by 10 basis points.
NAB breaks rank to lifts rates again
National Australia Bank Ltd has broken ranks with the major banks and lifted its standard variable home loan by another nine basis points.
Australian stocks lower at noon
The Australian share market was lower at noon by less than one per cent, with utilities and financials the main laggards.
Australia's Commonwealth Bank eyeing...
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...
CBA dumps bid for ABN Amro unit
Commonwealth Bank pulls out of a proposed $500 million deal to buy the Australian investment banking business of ABN Amro.
St George on target for profit
St George is expected to reveal it remains on track to hit its revised profit target for 2008 financial year.
St George on target for record profit
ST GEORGE Bank will see out what is increasingly looking like its last few months as an independent institution on the back of a record full-year profit.
Multiple rate cuts tipped for 2008
Three of Australia's big four banks expect the central bank to cut official interest rates in September, and again before Christmas.