Saturday, August 13, 2022

CATEGORY

Banking

Macquarie wrap up Australia’s largest cotton station

Australia's largest irrigated cotton property, Cubbie Station, is back in local hands after Chinese textile giant Shandong Ruyi sold its remaining stake to co-owner Macquarie Asset Management. Cubbie Station is responsible for around 10% of the country’s cotton output and is now entirely held by the Sydney-based company.

New Barellan PO owners excited to provide services

Sean Cunningham. Barellan Post Office, which is also the town’s financial centre, is under new ownership. The new owners Fiona Kibble and Cameron Rouse believe that investing in the post office has been the "best decision" they've made in a long time.

Bank access concerns build

Sheryl Lowe. Banking is challenging in Millicent and Districts for some members of the community since the ANZ Bank reduced their business hours last year. With this week’s announcement the Naracoorte ANZ will close in November, the future of the ‘big banks’ is being questioned by customers. The Millicent ANZ Bank now only opens on weekdays from 9.30 am to 12.30pm which leaves little opportunity for businesses to bank the days takings ... When Banks announce they are reducing their trading hours or closure they often encourage clients to use the local Post Office for their banking needs, but this can be problematic too.

Taskforce to probe bank branch closures in Cowper

A Regional Banking Taskforce established by the Liberal and Nationals Government will bring welcome focus on the impact of bank branch closures on regional communities Pat Conaghan Federal Member for Cowper has said.

Post office owners are the new bank tellers as big banks leave country towns

Coraki Post Office owner Steve Taylor knows how difficult banking can be for residents when they are unable to travel to their closest bank in Lismore or Casino. “One lady in her 80s who is born and bred in Coraki got caught out with no cash,” Mr Taylor said. She banked with ANZ and with the bank’s branches closed in Coraki and Casino, she wanted to get money from the post office. She couldn’t because ANZ don’t have a banking agreement with Australia Post.

Carbon partnership giving opportunities in the Cape

A partnership between the Aboriginal Carbon Foundation and a major bank has helped preserve Cape York country and employ a number of Traditional Owners. As part of the Commonwealth Bank of Australia’s carbon neutrality, the bank supports traditional Aboriginal fire management generating Australian Carbon Credit Units for the second year running.

Small towns and big banks

Under the State Purchasing Contract, all Victorian government entities such as local councils, schools, kindergartens and health facilities will be forced to bank with either the NAB, Westpac or the Commonwealth Bank. It is a move that is being strongly rejected by towns that rely on community banks ... “The big banks abandoned country Victoria in recent years – the last thing we should be doing is rewarding them with guaranteed business": Bev McArthur, Member for Western Victoria Region.

Commbank beefs up sustainability loans for agricultural sector

Queensland beef producer Stockyard Group has entered into a sustainability-linked loan (SLL) with Commonwealth Bank, in what is an Australian first for the agriculture industry. The three-year loan has been described by Commonwealth as a landmark transaction, with Stockyard engaging in sustainability measures than will include reducing emissions and a greater emphasis on animal welfare and on people’s well-being.

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