| St George blitzes big banks
ST GEORGE Bank has thrashed the majors in the business banking service ranks, particularly Commonwealth Bank of Australia, a survey says. Regional banks were rated better business bankers by their customers than the big four in a monthly survey for October of 850 customers by consultant East & Partners. On a scale from one to 10, the best ranked banks were the regionals, which were pooled together in the survey and received a collective score of 6.54. St George came second with a score of 6.05. National Australia Bank got the best score out of the majors of 5.61, while CBA came last with 4.14. "Arguably, these figures are fairly ordinary,'' East & Partners senior manager Robert Morgan said. "At the top end you've got 6.54, but that's only just over the medium point of five.'' Mr Morgan said the increasing competitiveness and complexity of business banking had made customers more discerning.
St George best business bank
ST GEORGE Bank has thrashed the majors in the business banking service ranks, particularly Commonwealth Bank of Australia (CBA), which continued to lag the pack, a survey says. Regional banks were rated better business bankers by their customers than the big four in a monthly survey for October of 850 customers by consultant East & Partners. On a scale from one to 10, the best ranked banks were the regionals, which were pooled together in the survey and received a collective score of 6.54. St George came second with a score of 6.05. National Australia Bank got the best score out of the majors of 5.61, while CBA came last with 4.14. "Arguably, these figures are fairly ordinary,'' East & Partners senior manager Robert Morgan said. "At the top end you've got 6.54, but that's only just over the medium point of five.'' Mr Morgan said the increasing competitiveness and complexity of business banking had made customers more discerning.
Uganda: Commonwealth Aids Projects
UGANDA has started reaping big from hosting this year's Commonwealth Summit after the Commonwealth Business Council earmarked over $ 100m (about sh175b) to implement two huge business projects in the country. According to James Mulwana, the chairman for the 2007 Commonwealth Business Forum, the two projects include setting up zip-money centers (small banks) in all rural areas and an ICT Park in Kakungulu Estate (Wakiso district) .
Miners, banks dominate BRW Top 1000
THE usual heavyweight companies from the mining and banking sectors continue to dominate Business Review Weekly's (BRW) Top 1000 companies list, released today, but newcomers are inching towards the top ranks. By revenue, the top companies are headed by miner BHP Billiton, retailer Woolworths, National Australia Bank, recently acquired retailer Coles Group, and the Commonwealth Bank - in exactly the positions they ranked last year. ANZ Banking Corp switched positions with miner Rio Tinto, lifting from seventh to sixth, while Westpac switched places with Telstra, rising from eigth from ninth, and oil refiner and petrol retailer Caltex Australia remained at tenth. The BRW Top 1000 companies orders firms by revenue earned, according to data analysis from IBISWorld. BHP Billiton, clinching top spot for the fourth year running, earned total revenue of $55.942 billion, also winning the "most improved'' title with an increase of $9.868 billion, or 21.4 per cent, on 2006.
Miners, banks top BRW list
HEAVYWEIGHT mining and banking companies dominate Business Review Weekly's Top 1000 companies list, released today. By revenue, the top companies are headed by miner BHP Billiton, retailer Woolworths, National Australia Bank, recently acquired retailer Coles Group, and the Commonwealth Bank - in exactly the positions they ranked last year. ANZ Banking Corp switched positions with miner Rio Tinto, lifting from seventh to sixth, while Westpac switched places with Telstra, rising from eigth from ninth, and oil refiner and petrol retailer Caltex Australia remained at tenth. The BRW Top 1000 companies orders firms by revenue earned, according to data analysis from IBISWorld. BHP Billiton, clinching top spot for the fourth year running, earned total revenue of $55.942 billion, also winning the "most improved'' title with an increase of $9.868 billion, or 21.4 per cent, on 2006.
Local business roundup
VINELAND -- The Vineland/Millville Urban Enterprise Zone will offer a free tax workshop for CPAs, accountants and lawyers on Nov. 29. Jim Gordon, a service representative with the Department of Treasury's Division of Taxation will lead the workshop from 9 a.m. to noon in the City Hall council chamber. .
Foreign banks see long-term profit in China's hinterlands
HSBC is on a tight schedule as it works to open rural subsidiaries around China and tap the long-neglected but now fast-growing rural economy.
HSBC got approval in August from China's banking regulator to open a wholly owned subsidiary in Cengdu County of Suizhou City, Hubei Province.
HSBC Rural Bank, the subsidiary, which is expected to open for business next month, will make the British financial giant the first foreign bank to expand into China's hinterlands.
Recently, it sent experts to Kaixian County, in southwest China's Chongqing Municipality, preparing to open another village bank, according to the county government.
"HSBC will open a rural bank in Chongqing in the first half of next year," said a source with the county government, which didn't reveal the bank's specific location.
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