While the Asia-Pacific region's growth story over the past few decades has been powered by Japan and then China, at least as far as banking is concerned, when these two countries are removed from The Banker's Asia-Pacific rankings, it is Australia's banks that come to the fore.
SABMiller's need to finance its $12.3bn takeover of Foster's saw it issue a $7bn multi-tranche Yankee. The result defied even the most optimistic of expectations, with high demand seeing the brewer come close to refinancing its bridging loan of $8bn in one fell swoop.
After a dip in fortunes, Macquarie Bank is celebrating its first anniversary of buying part of ING with bumper profits and a rebound in its share price. Virginia Marsh reports from Sydney. After a difficult period, Macquarie Bank, Australia’s only substantial independent investment bank, has silenced its critics with one of its best years ever.In the past 12 months, the Sydney-based bank’s share price has rocketed, hitting record levels above A$50 ($38.6).