Research Jan 2010

Commercial Banks

Bendigo and Adelaide Bank Limited NIM and asset quality are the most important factors

Brett Le Mesurier & Azib Khan   20-Jan-2010

Bendigo and Adelaide Bank Limited (BEN) indicated that their net interest margin (before deductions for payments to community banks) reached 2.08% p.a. at October, last year.

 

Commonwealth Bank of Australia No surprises and remains no. 1

Brett Le Mesurier & Azib Khan   18-Jan-2010

CBA announced on Friday that it expects to report cash NPAT of $2.9b for 1H10.

 

Investment Banks

AXA APH Limited FY09 defensive profit announcement

Brett Le Mesurier & Anthony Vogel   21-Jan-2010

AXA APH released its FY09 profit 3 weeks early as the figure was 10% above consensus forecasts.

 

Insurance

General Insurers The calm after the storm

Brett Le Mesurier & Anthony Vogel   20-Jan-2010

The 6 months to 31/12/09 can be characterised as the calm after (and most likely before) the storm for the Australian general insurers, attributable to:

 

Diversified Financials

ASX Limited Initiation

Brett Le Mesurier & Anthony Vogel   13-Jan-2010

We like ASX..... here's why

 

Challenger Financial Services Group Limited Dispelling the myths about Challenger

Brett Le Mesurier & Azib Khan   13-Jan-2010

How can CGF maintain it's 5% earnings spread?