Banking Newsletter - May 2010

Australia's economic recovery continues to gather momentum and the interim results announcements of the major Australian banks underscores the strength and international reputation of our system. In contrast, global economic growth remains fragile, heightened by fears of a deepening European debt crisis. Australian banks will have to contend with ongoing instability in international markets and proactively manage the associated risks. On a positive note, this may also represent opportunities for our banks.

Australian banks shine bright in dull financial world

KPMG's Half Year Major Banks Survey confirms that Australian banks remain in sound financial health with profitability back to pre-GFC levels.

Australian core systems replacement: Message from the past

Three of the four major Australian trading banks are embarking on a core systems replacement with over $2 billion expected to be spent over 2 years.

Financial risk landscape over the next decade

Australian Davos Connection and KPMG released ‘Australia Report 2010: risks & opportunities’. We look at the context of the Australian banking sector.

In demand: The talent challenge in strategic procurement

Procurement has evolved into a strategic cost and expense management function which can help CFO's pursue core business objectives.

APRA's proposals on supervision of conglomerate (L3) groups

APRA's discussion paper seeks to ensure that complex groups are financially sound and APRA-regulated entities within such groups are not put at risk.

Restoring trust and building confidence in our markets

Tim Flynn, Chairman, KPMG International, gave the 2010 Ken Spencer Memorial Lecture. Read excerpts from his remarks.

Looks like thumbs up for Henry Review and banking sector

Banks seem to have emerged from the Henry Review of Australia's tax system relatively unscathed while looking forward to potential future benefits

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