Car lender losing money
16 June 2008 |
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| FCA Holdings, formerly Ford Credit Australia Limited, has reported a lacklustre net profit of $24.8 million, down a quarter from the previous year. The 2007 calendar year profit is the lowest in five years, due to falling receivables, a trend that has existed for three years in a row. Total receivables fell to $2.4 billion in 2007 from $2.8 billion a year earlier, with 2005 $3.1 billion and 2004 $3.3 billion. Standard & Poor's maintained the Australian debt placements by the Company at B3 for short term guaranteed and B for long term guaranteed. Volvo Car Credit Australia transferred all assets and liabilities to FCA Holdings in March 2008, with the company no longer operating, until it is officially liquidated. |
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| Source : The Sheet |
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| 30 June 2008 | - French by Aussie banks |
| | - Elders profit up, outlook down |
| | - City Pacific holds back dividends |
| | - NAB circles as Westpac bid flounders |
| | - Depositors disadvantaged |
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| 27 June 2008 | - NAB considering bid for BankWest |
| | - CBA predicts another two years of debt problems |
| | - Bendigo gives up lending market share |
| | - Banks fight card fee cuts |
| | - Aust credit card market matures with population |
| | - Aussie banks well placed to deal with bad debts |
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| 26 June 2008 | - Super and banking merge into one |
| | - Future bank mergers judged on merit |
| | - Financial stocks no longer mainstays |
| | - Elders Bank suffering from competition |
| | - ANZ wins a go-slow on Opes Prime case |
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| 25 June 2008 | - Average Credit Card Interest Rates Rise |
| | - Super returns up slightly in May |
| | - Octaviar investors still out in the cold |
| | - Multi-currency bank account launched |
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| 24 June 2008 | - Mortgage brokers under pressure |
| | - Business likes Bendigo Bank |
| | - Westpac/St George deal is bad for consumers |
| | - Westpac needs to up its offer for St George |
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| 23 June 2008 | - Pressure on Westpac to close the St George deal |
| | - Fixed rate mortgages going up |
| | - Aussie banks are small |
| | - Tight debt markets keep rates high |
| | - Bill Express to be investigated |
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| 20 June 2008 | - Credit card debt growth slowing |
| | - Credit card debt growth slowing |
| | - Transurban cuts dividends |
| | - More trouble for Babcock & Brown |
| | - Last minute super deposits down |
| | - Investors go for safety |
| | - Financial advisors need to understand emotions |
| | - Credit card debt growth slowing |
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| 19 June 2008 | - Westpac seek $1bn in capital |
| | - Seiza also ceases lending |
| | - Property taxes in decline |
| | - Mystery loss for GE Money mortgages |
| | - GMAC ceases lending pending review |
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| 18 June 2008 | - Investors to receive 90 cents in dollar |
| | - Families to lose tax, child benefits |
| | - Housing affordability down |
| | - CBA loans for self managed super |
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| 17 June 2008 | - Big banks keeping customers satisfied |
| | - The end of listed buyout funds |
| | - ANZ pushes ahead in Asia |
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| 16 June 2008 | - Elderslie sold |
| | - Lending for investment stalling |
| | - Consumer lender reports profit surge |
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| 13 June 2008 | - Receivers to move into Elderslie |
| | - ASIC acts against super home loans |
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| 12 June 2008 | - Suncorp quits rural New South Wales |
| | - Budget jewellery chain folds |
| | - Margins still appeal to BankWest |
| | - BankWest expanding, not selling |
| | - ANZ taps super deposits |
| | - ACCC polling Westpac and St George |
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| 11 June 2008 | - Super bank account attracts retirees |
| | - Rabobank looks for more agribusiness |
| | - Cash account competes for online dollar |
| | - Bank merger threatens customer service |
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| 10 June 2008 | - Macquarie's grabs deposits |
| | - At-call super may lift returns by two thirds |
| | - No one prepared to own the mobile banking space |
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| 06 June 2008 | - Market still a bumpy ride |
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| 05 June 2008 | - Fickle CFD traders |
| | - Credit unions not easy pickings |
| | - BankWest backs cheap loan rate |
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| 04 June 2008 | - Suncorp turns to the west |
| | - Macquarie leaves Virgin in the lurch |
| | - BankWest denies sale rumours |
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| 03 June 2008 | - No stopping Opes clients' legal action |
| | - ING makes ID easier |
| | - Inflation up, spending down |
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| 02 June 2008 | - Opes victims urged to delay action |
| | - Banks winning market share |
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