Australia

ANZ quits bidding for Korean Exchange Bank takeover

Move brought relief to ANZ’s investors, who were nervous about the capital needed to fund the acquisition.

ANZ quits bidding for Korean Exchange Bank takeover

Move brought relief to ANZ’s investors, who were nervous about the capital needed to fund the acquisition.

NAB shareholders target $442mln in US subprime suit

Shareholders sued the bank for failing to report exposure and risk of losses from subprime mortgage exposure.

NAB mobile banking transactions up 200%

Australian banks’ move to enable consumers to download their apps for free to check bank or savings account balances spurred mobile transaction growth.

Commonwealth Bank sees customer leaving over interest rate hike

The bank raised its home loan rate by almost double the Reserve Bank's interest 0.25% official rate rise to fund its increasing costs.

30,000 customers files class action versus ANZ

The lender is among those in Australia that face $50mln charge for alleged illegal fees.

Westpac full year profit up 84% to $6.5bln

A sharp decrease in impairment or bad loan charges drove the lender’s profit up.

ANZ keen on expanding in India

The lender plans to open a full-service branch geared to the institutional and markets business.

ANZ seen to bid for entire KEB stake

Nomura “would be surprised” if ANZ is not considering making takeover bid after lender raises $1.6mln.

ANZ inaugurates Chengdu unit

Lender aggressive in China expansion as it seeks for $5bln purchase of KEB's 57% stake.

Westpac allots $100mln to boost retail division

Move follows lender's appointment of 670 managers in an effort to increase division's competitiveness.

Regulator approves ANZ Bank's $373mln China unit

Plans to set up 20 branches in three years as it targets stronger foothold in China.

HSBC names Paul Bloxham Chief Economist Australia and New Zealand

Reserve Bank of Australia experience brings in strong understanding of Australian macroeconomic policy formulation to lender.

National Australia junks bid for Axa Asia

Regulator's blocking of NAB-AXA deal paved way for AMP offer as insurer remains strategically attractive.

Westpac provides online investors global access

Lender enables its 250,000 online customers to access to over 30 markets with new product suite.

Westpac names Jane Kittel BankSA CEO

Kittel to replace Rob Chapman after being general manager of lender's Pacific Banking division.

Commonwealth Bank offers $1.4bln of bonds

Lender's largest bond sale in its home market since March 3 is due in 2013.

International regulatory caravan moves on, but destination remains unclear

Last month's G20 meeting in Toronto did little to dispel the uncertainties surrounding proposals for new internationally harmonised financial regulation and revised capital standards for banks and other intermediaries.