Tag: SGB

Australia’s fifth largest bank, St George (SGB), has sent an indication it is considering increasing its lending rates, including home loans, by as much as 40 basis points, or 0.4%.

St George Bank plans to raise about $110 million under a share purchase plan which allows eligible shareholders to purchase $5,000 of additional fully paid ordinary shares in the company.

St George Bank has followed its larger rival, ANZ, in reporting better than expected first half earnings.

St George Bank has fired the first shot in what could be a rate war for housing finance in the wake of the figures from the Australian Bureau of Statistics showing a fourth month of easing levels of finance for home buying in November.