Lending growth in Australia is strong despite the impact of tightening global credit markets according to Deloitte.
The Federal Reserve has cut rates by 25 basis points to 4.5 per cent in response to fears of a slowing US economy.
ASX-listed Firstfolio Ltd has ramped up its sales and distribution presence in the north Queensland and Gold Coast markets.
Credit defaults have increased dramatically over the past 12 months as rising interest rates and income hardships hit struggling borrowers.
Plans for Hunter Valley-based Companion Credit Union, Hunter United Employees’ Credit Union and Phoenix Credit Union to merge have been cancelled.
Wide Bay Australia yesterday announced an off-market takeover bid for Mackay Permanent Building Society (MPBS).
Pepper Homeloans has shelved two products and axed 19 staff members in the past two weeks as jittery capital markets continue to hurt securitised lenders.
The low doc loan market grew by 26 per cent to reach $8.4 billion last year, despite being hampered by surging interest rates said research house MISC Australia today.
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