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St George will rejuvenate Westpac
28 October 2008 |
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| Westpac will be rejuvenated by the St George takeover says Southern Cross Equities analyst TS Lim. "If you look at Westpac, the retail banking hasn't been very good," said Mr Lim, "This is a very good deal for Westpac." The combined group will be Australia's second biggest bank, after Commonwealth, although it will retain separate brands. St George is expected to announce profit growth of around 10 per cent tomorrow in its last result before being taken over by Westpac. St George shareholders will receive 1.31 Westpac shares for each St George share they own, a deal that equals $26.19 per St George share, lower than yesterday's closing price of $26.39. |
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| Source : The Australian Financial Review |
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| 31 October 2008 | - Westpac profits and bad debts up |
| | - Westpac grows deposits |
| | - Citibank focussing on mortgages |
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| 30 October 2008 | - St George grows deposits but not loans |
| | - Reverse mortgages lose popularity |
| | - Bank defends no rate cuts on credit cards |
| | - No penalty fee for union members |
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| 29 October 2008 | - Westpac/BT have learnt the liquidity lesson |
| | - Suncorp for sale again |
| | - Record profit posted by St George |
| | - Deposit guarantee clarified but questions remain |
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| 28 October 2008 | - Westpac on NSW sales blitz |
| | - Government rejects extending deposit guarantee |
| | - CBA shocks investors by freezing CFS trust |
| | - Bendigo boasts strong deposit growth |
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| 27 October 2008 | - GE Money cuts and runs |
| | - Govt guarantee creates surge in bank deposits |
| | - Aussie Home Loans cuts rates again |
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| 23 October 2008 | - Swan approves Westpac plus St George |
| | - CBA tree dispute could be costly for Bendigo |
| | - Banks go to Canberra for crisis talks on guarantee |
| | - ANZ profit down 21 per cent |
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| 22 October 2008 | - Banks start sacking staff |
| | - Westpac/St George cut rates |
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| 21 October 2008 | - RBA hoses down big rate cut expectations |
| | - NAB's bad debts up to $2.5 billion |
| | - Debtors have rights under banking code |
| | - Consolidation continues in banking industry |
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| 20 October 2008 | - Rising inflation to moderate rate cuts |
| | - NAB earnings down twenty per cent |
| | - ING reassures Australian depositors |
| | - Commonwealth cuts home loan rates |
| | - Nab cuts rates on its home loans |
| | - ANZ Cuts Interest Rates |
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| 19 October 2008 | - Relief for first home buyers |
| | - NAB follows ANZ in cutting rates again |
| | - CommBank calls halt to HomePath experiment |
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| 16 October 2008 | - Refused bail for bank fraud |
| | - NAB's debt collector accused of bad behaviour |
| | - NAB hording cash as earnings fall |
| | - NAB credit rating under threat |
| | - Interest rates to plummet to near zero |
| | - Aussie customer files left out for recycling |
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| 15 October 2008 | - Savings account interest rates slashed |
| | - Government gives powers to bank regulator |
| | - Eight per cent term deposits ending soon |
| | - Credit Unions, small banks talk mergers |
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| 14 October 2008 | - Pensioners get Christmas bonus |
| | - No rate cut for GE's mortgage managers |
| | - Commonwealth and ANZ called on to end penalty fees |
| | - Banks make big cuts to fixed rate mortgages |
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| 13 October 2008 | - SGB's business customers oppose WBC's takeover |
| | - Credit unions take on the big banks |
| | - Lenders will be forced to be responsible |
| | - Rudd Government will intervene to save non-banks |
| | - Rudd- All deposits now government guaranteed |
| | - Rudd- All deposits now government guaranteed |
| | - Credit Card rates slow to change |
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| 12 October 2008 | - Only Westpac business customers get rate cuts |
| | - Interest free deals scaled back |
| | - Rates to fall to five per cent by Christmas |
| | - Banks welcome government intervention |
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| 10 October 2008 | - Do You Know Your Banks Credit Rating |
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| 09 October 2008 | - Worried depositors reassured by bank staff |
| | - Victoria Teachers CU riding out the credit crunch |
| | - Stability overrides competition concerns |
| | - NAB, Bankwest and Bendigo cut rates one week late |
| | - Banks welcome increase in deposits |
| | - Bank of Queensland losing in the Sydney market |
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| 08 October 2008 | - Westpac cuts rates for business |
| | - Property prices to hold up over next two years |
| | - Mortgage market still weak |
| | - Banks cut deposit rates |
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| 07 October 2008 | - CBA snatches BankWest |
| | - Commonwealth set to dominate the market |
| | - No rate relief on credit cards or loans |
| | - Big banks cut rates by 0.8 per cent |
| | - Banks promise to make up rate cuts |
| | - Westpac Cuts Rates by 80 Basis Points |
| | - Aussie Home Loans To Pass On 75 Basis Points |
| | - RBA Cuts Cash Rate by One Percent |
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| 06 October 2008 | - Today's rate cut to deliver $50 a month |
| | - First home buyers accounts have catches |
| | - Commonwealth grabs BankWest |
| | - Commbank execs focus on customers |
| | - BankWest and Ubank top the charts for depositors |
| | - ANZ, CBA jockey for Suncorp |
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| 03 October 2008 | - Banks say no to big rate cuts |
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| 02 October 2008 | - UBank offers 8.5% on deposits for next two weeks |
| | - NAB's UBank is not ready for market |
| | - NAB launches UBank brand |
| | - Majors circle BankWest and Suncorp |
| | - Banks won't pass on rate cuts |
| | - All mums are not equal |
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| 01 October 2008 | - Rates to fall 0.5 per cent next week |
| | - Promotional rates work for BankWest and ING |
| | - NAB loses market share in business banking |
| | - NAB is least popular bank |
| | - Majors set for bidding war on BankWest |
| | - Commonwealth leads on deposits |
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