The Rock loses deposits
28 August 2008 |
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| Net profit reported by The Rock Building Society was up 21 per cent to $4.48 million for financial year 2008, at the high end of the $4.2 to $4.5 million guidance reaffirmed at the February interim results. Revenue increased 18 per cent to $98.5 million, with net tangible assets backing per share up 21 cents to $2.50 – with net assets $48 million, up from $43.8 million. The lending book grew at a sub-system nine per cent to $1.17 billion, with arrears over 30 days less than one per cent of the lending portfolio. A four per cent drop in retail deposits for the year to $499 million was disappointing, with 72 per cent of the portfolio domiciled in Central Queensland, twelve per cent in the rest of Queensland and 16 per cent in the rest of Australia. A final dividend of 10.5 cents was declared, bringing the FY08 total to 20.5 cents, 2.5 cents higher than the previous year. Shares remained untraded yesterday, with the last trade at $3.00. Twelve-month highs are $5.25 and lows $2.79, with a market capitalisation of $58 million. |
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| Source : The Sheet |
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| 30 August 2008 | - Australian Credit Card Interest Rate Summary |
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| 29 August 2008 | - Less money coming in to AMP |
| | - Banks lend super contributions to customers |
| | - Aussie picks AMP for mortgage insurance |
| | - ANZ leads on rate cuts |
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| 28 August 2008 | - Raise the retirement age to 75 say seniors |
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| 26 August 2008 | - Super loser sold |
| | - Suncorp profit slide |
| | - St George needs Westpac |
| | - Force boss to go green say workers |
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| 25 August 2008 | - ANZ sacks 8 over Opes |
| | - No gaol for Westpoint salesman |
| | - ANZ fallout continues |
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| 22 August 2008 | - Time to end the landlord's tax break says NAB |
| | - Swan tells CBA, ANZ and Westpac to fall into line |
| | - Non-bank lenders will come back |
| | - NAB losing the mortgage war |
| | - NAB commits to cut rates |
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| 21 August 2008 | - Responsible lending code not needed say banks |
| | - PayPal told to change |
| | - Cut rates says Westpac |
| | - Banks manipulate customers |
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| 20 August 2008 | - RBA makes rate cuts crystal clear |
| | - More three generation homes than ever before |
| | - Melbourne is most liveable city |
| | - Global banking crisis to continue |
| | - Aussie John sells out to Commbank |
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| 19 August 2008 | - Mortgage rates cut |
| | - More disturbance at The Rock |
| | - Australian Central moves west |
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| 18 August 2008 | - Term deposit rates come down |
| | - Swan tells the banks |
| | - Good debt drives bank profit |
| | - Fixed rate mortgages fall |
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| 15 August 2008 | - Woolies MasterCard, Woolworths MasterCard, Woolworths Credit Card launches new financial services |
| | - Westpac sacks planners |
| | - CBA expects flat year with no nasty surprises |
| | - Banks told to pass on cuts |
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| 14 August 2008 | - Profit up for IMB |
| | - Commonwealth sells more mortgages and overdrafts |
| | - Commonwealth loses business customers |
| | - Profits and bad debts up at Commbank |
| | - Green light from regulator for St George/Westpac |
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| 13 August 2008 | - St George on track for big profit |
| | - Deposits pour in at St George |
| | - Commonwealth banks profits |
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| 12 August 2008 | - Profit surges up for Bendigo & Adelaide |
| | - NAB signs Chinese deal |
| | - NAB looks to expand into shares |
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| 11 August 2008 | - Westpac emerges |
| | - Smoke and mirrors cost ANZ |
| | - Shareholders review Members Equity bank |
| | - Credit laws get reviewed |
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| 08 August 2008 | - Rates to fall to five per cent next year |
| | - Mortgage broker posts strong sales growth |
| | - GE looking to do something with Wizard |
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| 07 August 2008 | - Westpac is the safest bank |
| | - Taxes dampen market activity |
| | - Low doc borrowers cut out of market |
| | - Banks may not pass on rate cuts |
| | - Aussie on the prowl |
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| 06 August 2008 | - Consumer demand for credit falls. |
| | - The Reserve Bank Australia set to lower rates in September. |
| | - Wealth managers struggle |
| | - Competition in home loans alive and kicking |
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| 05 August 2008 | - Suncorp faces losses |
| | - Consumer lending and delinquencies up for HSBC |
| | - Bank margins widen |
| | - House prices falling |
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| 04 August 2008 | - Suncorp's bank business slows sown |
| | - Hard to make ends meet on $273/week |
| | - DIY super outperforms |
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| 01 August 2008 | - Top end of property market hit by high rates |
| | - Grains and meat drive Elders Rural Bank profit |
| | - BankWest's east coast plans eat into profit |
| | - Aviva suffers with markets |
| | - Rates could fall half a per cent next week |
| | - Non bank lender goes belly up |
| | - Market unimpressed by new NAB boss |
| | - Credit growth stalls |
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