Australian banks’ assets grew by 17.5 per cent in the 06/07 financial year, driven by strong growth in housing loans.
The international credit crisis will be “very good” for local banks, Justin Braitling of Australian Leaders Fund today told The Australian.
Credit unions and building societies experienced a positive 12 months to September 2007 with lending for housing driving the sector’s growth.
Centro Properties Group (Centro) may become the first major Australian real estate casualty of the global credit crisis.
Struggling UK lender Northern Rock has taken a £281 million (A$653 million) hit as a result of the credit crisis.
Australia’s big four banks’ profit margins will shrink considerably unless they pass on the higher costs of funding to their home loan borrowers.
Club Financial Services (Club) today announced the acquisition of franchise-operated mortgage brokerage The Mortgage Bureau.
The US Federal Reserve's Federal Open Market Committee (FOMC) decided yesterday to lower interest rates by 25 basis points to 4.25 per cent.
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