Daily Dispatches: CBA and ANZ seek more growth in Asia

Two of the big four banks, the Commonwealth and ANZ, are deepening their push into Asia as growth opportunities in Australia diminish. CBA yesterday announced plans to build a 20 per cent stake in Vietnam International Bank (VIB) for less than $200 million, while ANZ is showing interest in a $4.1 billion majority stake in Korea Exchange Bank. (The Australian)

The rush of the major investment banks to poach property bankers is expected to bring a higher number of real-estate transactions to the market this year as cashed-up companies capitalise on reduced asset valuations. (The Australian)

Super funds are on track to post double-digit returns this financial year. Fund research group SuperRatings said yesterday the median balanced option fund rose 2.9 per cent in March, accelerating from a 0.8 per cent increase in February, on a 4 per cent rise in the Australian sharemarket in March and buoyant investor sentiment. (Sydney Morning Herald)