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The Australian Banks were exposed to large corporate failures
during 2001. The banks, however, resurged and have generally
taken a proactive, and often conservative, approach to recognizing
their doubtful debts.
Almost a third of bank profits come from overseas investments
and not income from fees on personal transaction accounts.
Revenue is rising as banks expand into non-traditional activities
such as managed funds, superannuation and financial advice.
Press
The Mercury (Australia)
Banking gaps leave
many disadvantaged, says ANZ
Bruce Brammall
November 26, 2004
Over one million Australians
lack access to low-cost, fair and safe financial services
from mainstream providers. These people’s financial
exclusion leaves them open to exploitative loan sharks and
“payday lenders,” which can charge up to 1300%
interest rates, locking the victims into a viscous poverty
trap. The ANZ said it would donate $3 million to fund two
programs – a matched savings program and a small loans
at low, personal rates initiative – to help these
people who lack access to the regular banking system.
Herald Sun (Melbourne, Australia)
Dear loans trap poor;
Forming an underclass
Ian Royall
November 20, 2004
A study on consumer debt
in Australia revealed that low income families are sinking
further into debt because they are being denied low-interest,
low-cost credit, forcing them to use costly credit cards,
payday lending, and pawnbroking to get credit. At the same
time, wealthier consumers are being offered fee exemptions,
term deposits and low interest credit cards. The study also
revealed that low income families are good money managers
and budget better than most people on a high income.
Herald Sun (Melbourne, Australia)
Pay-day lending
bites hard; 420 per cent interest
Ian Royall
November 15, 2004
Low income Australians are being
charged up to 420 % annual interest on short-term cash loans.
So called pay-day lending is very profitable for the lenders,
who charge a $35 fee for every $100 borrowed and demand
repayment of the loan as soon as the borrower’s next
pay check arrives. Mainstream banks refuse to lend to low
income customers, who have no other choice but borrow from
these high interest schemes, which circumvent governmental
regulations by charging “fees” instead of interest.
ANZ (Australia)
Community
Development Finance in Australia
ANZ Response to Consultation
November 17, 2004
ANZ
Summary Presentation:
Research on Financial Exclusion in Australia
November 17, 2004
ANZ
A Report On Financial Exclusion in Australia
November 20. 2004
ANZ
Volume 2:
A Quantitative Report on Financial Exclusion
November 24, 2004
ANZ Response to Consultation
Community Development Finance in Australia
November 27. 2004
ANZ Chart Link and Associates
A Quantitative Report on Financial Exclusion in Australia
November 30, 2004
ANZ Chart Link & Associates
Summary Presentation: Research on Financial Exclusion in Australia
November 30, 2004
ANZ Chart Link & Associates
A Report on Financial Exclusion in Australia
November 30, 2004
ANZ Annual Report
Community Development Finance in Australia - ANZ Response
November 30, 2004
Fiji Times (Oceania)
Rural Banking Expands
March 24, 2005
PNG Post Courier (Oceania)
PNG to gain from ANZ's rural push
March 24, 2005
Pac News (Oceania)
ANZ eyes Pacific Nations for Rural Banking
March 2005
ADB Regional Conference on Expanding the Frontiers of Commercial Microfinance (Fiji)
Banking the UnBanked in Fiji: The ANZ Bank and UNDP Partnership
March 14-15, 2005
ANZ-UNDP (Fiji)
Our Experience in Fiji and Bankig the Unbanked in the Pacific
March 16, 2005
Legislation
Banking
Law
And see, http://www.accc.gov.au/content/index.phtml/itemId/55533
http://www.consumersonline.gov.au/content/links/
To
serve legal documents (this formality generally NOT necessary
for commenting) -
Consumer
rights in banking, credit unions and building societies
(online publication)
Contact
consumer
protection / license check: http://www.fido.asic.gov.au/
Australian Prudential Regulatory Authority
Level 26, 400 George Street, Sydney, NWS 2000, Australia
List
of authorized deposit-takers in Australia,
Australian-owned Banks
Adelaide Bank Limited
AMP Bank Limited
Australia and New Zealand Banking Group Limited
Bank of Queensland Limited
Bendigo Bank Limited
Commonwealth Bank of Australia
Commonwealth Development Bank of Australia Limited (a subsidiary
of Commonwealth Bank of Australia)
Elders Rural Bank Limited
Macquarie Bank Limited
Members Equity Pty Limited
National Australia Bank Limited
St George Bank Limited
Suncorp-Metway Limited
Westpac Banking Corporation
Foreign Subsidiary Banks
Arab Bank Australia Limited
Bank of Cyprus Australia Pty Limited
BankWest (the trading name of Bank of Western Australia
Limited,
a foreign subsidiary bank following its sale to Bank of
Scotland in December 1995)
Citibank Pty Limited (a subsidiary of Citibank N.A.)
HSBC Bank Australia Limited
ING Bank (Australia) Limited
Investec Bank (Australia) Limited
Laiki Bank (Australia) Limited
NM Rothschild & Sons (Australia) Limited
Rabobank Australia Limited (a subsidiary of Rabobank Nederland
from October 1994)
Branches of Foreign Banks
ABN AMRO Bank N.V.
Bank of America, National Association
Bank of China (subject to depositor protection provisions
of the Banking Act 1959)
Bank of Tokyo-Mitsubishi, Ltd
Bank One, National Association
Barclays Capital (the trading name of Barclays Bank plc)
BNP Paribas
Citibank N.A.
Credit Suisse First Boston
Deutsche Bank AG
HSBC Bank plc
ING Bank NV
JPMorgan Chase Bank
Mizuho Corporate Bank, Ltd
Oversea-Chinese Banking Corporation Limited
Rabobank Nederland (the trading name of Co-operative Central
Raiffeisen-Boerenleenbank B.A.)
Royal Bank of Canada
Société Générale
Standard Chartered Bank
State Bank of India
State Street Bank and Trust Company
The International Commercial Bank of China
The Royal Bank of Scotland Plc
The Toronto-Dominion Bank
Taiwan Business Bank
UBS AG
United Overseas Bank Limited
WestLB AG
Building Societies
ABS Building Society Ltd
B & E Ltd
Greater Building Society Ltd
Heritage Building Society Limited
Home Building Society Ltd
Hume Building Society Ltd
IMB Ltd
Lifeplan Australia Building Society Limited
Mackay Permanent Building Society Ltd
Maitland Mutual Building Society Limited
Newcastle Permanent Building Society Ltd
Pioneer Permanent Building Society Limited
The Rock Building Society Limited
Wide Bay Australia Ltd
Highlights
Reportedly, "the Australian Prudential Regulation
Authority began requiring bank branch distribution data
from all authorized deposit-taking institutions in 2002.
The publicly available data updated annually and lists the
type of branch, the services provided, and whether or not
the branch serves a rural or metropolitan area." See,
Australian Prudential Regulation Authority. 2003. Points
of Presence: Summary of Channels Offering a Branch Level
of Service. Sydney: Australian Prudential Regulation Authority.
See also, Financial Services Consumer Policy Centre
http://www.fscpc.org.au/
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Australia