PROFITS for the nation's banks will be hit this year and into 2009 as loan growth slows and impaired assets and funding costs rise, ratings agency Fitch says. The agency also predicts in its semi-annual review that industry consolidation will continue, although it will mainly feature smaller lenders because the bigger deals have "stumbling blocks", including the Four Pillars ban on major bank mergers. Join discussion...

ANZ Bank has been singled out ahead of other big Australian banks as most at risk of further material provisions because of its long credit default swap positions, potentially running to $2.4 billion, based on international comparisons. Join discussion...

Why is JB Hi-Fi able to defy the retail downturn? See our earlier article, "Economy in downsizing phase" at http://cij.inspiriting.com/?p=460 There is a trap for JB Hi Fi though, if the economy continues slowing into a severe recession. Join discussion...

How much are Australian banks exposed to the crisis in Babcock & Brown? Join discussion...

"We expect there to be a notable softening in new car sales for the rest of the year, and we're taking these actions to strategically position our business to match our production to market demand." Join discussion...

Goldman and Morgan is now transformed into old-fashioned bank. Join discussion...

THE global credit crunch has plunged the mortgage broking industry into turmoil, with a third of all brokers expected to flee the industry by the end of the year. Join discussion...

NATIONAL Australia Bank and ANZ Bank are seen as the two big banks most likely to announce further write-downs to their structured credit exposures -- potentially up to $1 billion each. Join discussion...

Following a visit to NAB management, UBS banking analysts estimate the bank may provision for yet more losses from its exposure to collateralised debt obligations (CDOs). Though they are factoring in a further $450 million in provisions this year, they reckon NAB could be in for a hit as big as $1.6 billion. Join discussion...

Many investors think that Warren Buffett's purchase of Goldman Sach stocks is a vote of confidence. Well, not really- it is an opportunistic flesh carving deal. Join discussion...