More Australians prefer to use their own money, such as a debit scheme card or Eftpos, rather than borrowing on credit / File AUSTRALIANS’ love affair with credit cards is waning as people switch to using cash and debit cards. Reserve Bank of Australia statistics show credit card use has dropped...

RBS overnight received preliminary offers from at least five bidders for the network of 318 branches in England and Scotland that it is being forced to sell. BBC’s business editor reported that the five were Spanish banks Santander and BBVA, Virgin Money, National Australia Bank and private equity...

Bank of Queensland may confirm by Wednesday that it plans to buy the CIT financing and leasing business from the US financier of the same name, the Financial Review reported in its Street Talk column. CIT is supplies vendor finance to Apple and Dell, among others. The firm passed into bankruptcy...

The share of new loans to owner-occupiers and with a loan to valuation ratio of more than 90 per cent fell by more than a third over the last year, the Reserve Bank of Australia reported in its half-yearly Financial Stability Review. Housing loans with an LVR above 90 per cent fell from a peak of...

The profits of foreign banks operating in Australia through branches dipped a little in the September 2009 quarter, data compiled by the Australian Prudential Regulation Authority shows. The aggregate net profit of the 35 foreign banks in the September 2009 quarter was $283 million, and down from...

Westpac managing director Gail Kelly predicted a further rise in the bank’s costs of funds, driven by pricing in offshore debt markets, at between 30 and 40 basis points from current levels, The Age reported. Kelly was speaking at a private investor briefing on Friday. Kelly also warned that further...