An ethical black hole remains at the heart of the market

The global crisis was not an aberration but a structural inevitability.

ANZ joins the growth party Bank heads for record half

ANZ says the economy is at a "turning point", after a fall in its bad debts and fatter margins are set to propel the Asian-focused lender to a record half-year profit of as much as $2.4 billion.

Higher margins bolster ANZ

ANZ has declared the economy is at a "turning point" after a fall in bad debts, with fatter margins set to propel the Asia-focused lender to a record half-year profit of as much as $2.4 billion.

Bad debts fall but NAB lags rivals

THE growing divide between the biggest and smallest of the big four banks was underlined yesterday after National Australia Bank revealed that increasing competition and flat revenue growth had held back any immediate post-global financial crisis profit boost.

NAB turns in flat result for December quarter

THE growing divide between the biggest and smallest of the big four banks was underlined yesterday when National Australia Bank revealed that increasing competition and flat revenue growth had blocked any immediate profit improvement as the global financial crisis faded.

Westpac on course for a record $2.7bn

A RAPID decline in bad debts is set to propel the expanded Westpac group to a record half-year profit of about $2.7 billion.

CommBank's surprise packet

THE Commonwealth Bank's army of small shareholders are likely to be rewarded with their first increase in the interim dividend for two years despite the board's insistence it could no longer guarantee higher payouts.

Further bad-debt strife looms

A SECOND wave of corporate collapses is still causing headaches for the nation's banks even after many declared the worst was behind them on the bad-debt front.

Banks have turned corner: ANZ chief

ANZ has posted an 11 per cent drop in annual profit, but declared the nation's banking system might have turned a corner, with bad debts that have been sapping earnings over the past year finally peaking.

Business: home to bad debts

THE NAB profit result shows that the Australian banks are now operating in a bipolar market. Against all expectations, the global crisis has not spread into a serious rise in defaults on household credit, including home loans, credit cards and personal loans.

No deterioration in credit quality, says NAB, but bad debts could still sting

The NAB profit result shows that the Australian banks are now operating in a bipolar market. Against all expectations, the global crisis has not spread into a serious rise in defaults on household credit, including home loans, credit cards and personal loans.

NAB results leaked in Britain

KEY figures for National Australia Bank's accounts were leaked to the British media days before the release of its annual profit results today.

CBA raises hackles in rejecting ASIC finding

The bank misses the point in its pugnacious response to criticism. COMMONWEALTH Bank's aggressive defence of the events surrounding last year's $2 billion capital raising was clearly aimed at any investors looking to take the issue further.

CBA under fire over $2b share blunder

FUND managers have hit out at Commonwealth Bank of Australia's refusal to accept responsibility for last year's botched multibillion-dollar capital raising, even after the securities regulator accused the bank of sloppy disclosure over a $600 million blowout in bad debts.

Shades of Seinfeld, but no news is good for ANZ's chief

The bad debt cycle has bottomed in Australia, Mike Smith believes.

NAB raising 'not a war chest'

SOME of the National Australia Bank's $2.75 billion capital raising is expected to fund further piecemeal acquisitions but its chief executive, Cameron Clyne, insists the lender is not building a war chest to fund global expansion.

Big Four have no shocks in sight

THE Big Four banks are expected to avoid the worst of the bad debt excesses of the early 1990s recession but loan write-downs and losses will still be equal to every dollar of profit they make for the financial year.

Big Four: $16b bad debts to match profits

THE Big Four banks should avoid the worst of the bad debt excesses of the early 1990s recession but their sour loan write-downs and losses in the current financial year will still be equal to every dollar of profit they make.

Volatility And Broker's Collapse Give Anz $1bn Bad-debt Headache

ANZ is facing about $1 billion in bad debts because of sharemarket volatility, the collapse of broker Opes Prime Group and the likelihood of further market turmoil.

Bad Debt Files Purged After Privacy Watchdog's Finding

A database used to assess people's financial histories is removing 65,000 records of bad debts that could be inaccurate, prompting calls for tighter regulation of the burgeoning credit reference industry. The credit bureau Baycorp Advantage has agreed to remove the files, which involve records from the defunct telephone company One.Tel, after the federal privacy commissioner found One.Tel's liquidator had not updated records once debts had been paid, and the defaults were questionable.