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Article: ING Direct, AMP deposits grow faster.
- Article from:
- Australasian Business Intelligence
- Article date:
- August 1, 2001
CopyrightCOPYRIGHT 2001 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug 2, 2001 (The Australian Financial Review
ABIX via COMTEX) -- New banking data on deposits in Australia shows strong growth for branchless banks such as AMP and ING Direct. In the year to 30 June 2001, ING Direct increased its deposit base by almost a third, reaching $A3.5bn. Much of this growth was due to the success of its online savings accounts, particularly in New South Wales, and was at the expense of Westpac and St George. AMP's national retail deposits increased from $A378m to $A1.02bn. The National Australia Bank and ANZ gained market share in New South Wales, but lost ground in Western Australia to Westpac Challenge and BankWest.
AMP LIMITED ...