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Morgan Stanley reports that Macquarie Group has achieved exceptional growth in deposits and mortgages, outperforming major Australian banks. The Commonwealth Bank of Australia has shown below-system growth in both areas, while Westpac has underperformed the market average. National Australia Bank exceeds industry benchmarks in household deposits but lags in mortgage growth, and ANZ matches the market in deposits but falls short in mortgages.
Denmark's Nykredit has made a DKr24bn ($3.5bn) cash offer to acquire Spar Nord Bank, representing a 49% premium on its share price, with completion expected in the first half of 2025. In other news, AllianceBernstein plans to sue Switzerland over the $17bn writedown of Credit Suisse's AT1 bonds, joining a lawsuit that claims investor rights were violated during the UBS takeover. Additionally, DBS Group, Mitsubishi UFJ Financial Group, and Sumitomo Mitsui Financial Group are potential bidders for Indonesia's Panin Bank, which has seen a significant rise in its share value this year. Morgan Stanley will pay $15mn to settle SEC allegations regarding inadequate fraud prevention measures at its Smith Barney unit.
ANZ has appointed Nuno Matos, a former HSBC executive, as its new CEO, effective July 3, 2025, succeeding Shayne Elliott, who is retiring after nine years. Matos brings over 30 years of banking experience and will lead the bank through its merger with Suncorp Bank, focusing on enhancing stakeholder value and customer migration to ANZ Plus.
ANZ Group Holdings Ltd. has revised its outlook for Australia's easing cycle, predicting it will start later and be shallower than expected. The first rate cut is now anticipated in May, down from February, with a total of two cuts instead of three, influenced by the RBA's hawkish stance and improving economic indicators.
ANZ Group Holdings Ltd
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
macquarie leads australian banks in deposit and mortgage growth analysis
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05:06 01.04.2025
Nykredit to Acquire Spar Nord Bank in Major Danish Banking Merger
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12:03 10.12.2024
anz appoints former hsbc executive nuno matos as new ceo
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Paul O'Sullivan
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09:21 09.12.2024
anz revises australian rate cut forecast amid hawkish rba stance
02:02 29.11.2024
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