Business Services Industry
Small margin lenders lead client grab.
Australasian Business Intelligence, June, 2007
Byline: Jonathan Barrett
Jun 24, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The regular end-of-financial-year grab for margin-lending clients has again provided undercut interest rates from small providers. By 25 June 2007 both the Bank of Queensland and Suncorp had dropped their rates by 1. The large banks, which have substantially larger margin-lending books, feel they have no need for such actions. The profit margin on margin-lending is estimated at between two and three per cent, whereas the rate on traditional mortgages is 1.
Publication Date: 25 June 2007
BANK OF QUEENSLAND LIMITED - ASX BOQ
SUNCORP-METWAY LIMITED - ASX SUN
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