Daily Dispatches: ANZ expects solid profits

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ANZ Bank is on track to at least match its 2008 annual cash profits of $3.3bn the back of strong revenue growth and as a consequence of a slowdown in the rate of increase of its bad debts. (Business Day)

Macquarie Group has revealed Storm Financial was once its fourth-biggest customer for margin lending when the bank also provided a loan to the financial planner, which collapsed at the start of the year. (Sydney Morning Herald)

Australian banks could be on the shopping lists of their major Asian rivals. Credit Suisse, which has gained a growing market share in advising the big four banks, believes Asian banks will expand into Australia, as they follow the companies they finance into the market. (The Australian)

CBA is eyeing a big expansion in Asia via fresh investments in Indonesia and China. (Herald Sun)

Employer-sponsored skilled migration levels are surging even as the Federal Government makes deep cuts to permanent residency numbers, a report shows. (News.com.au)

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