Dispatches: St George plans expansion

St George's new chief executive Rob Chapman has unveiled an aggressive strategy to expand in Queensland, Victoria and Western Australia. Mr Chapman, who takes over today as chief executive of the country's fifth-biggest bank, says he plans to go for growth in "non-core" states while further expanding sales of Westpac group's wealth products to St George customers. (The Australian)

"Aussie" John Symond - the man who broke the stranglehold of the major banks over the home loan market in the 1990s - has rejected the creation of a state-owned lender as a way to undermine the big four's domination of the mortgage sector. Mr Symond, who still chairs the mortgage broker that is now part-owned by the Commonwealth Bank, has told a Senate inquiry into the banking sector that a government-backed institution, such as Australia Post, would not create greater home loan competition. (The Age)

At least 5000 National Australia Bank customers have applied for compensation from the bank following the technical failure that locked customers out of their accounts, leaving them unable to pay bills and access cash. (Sydney Morning Herald)

With the engagement now official AMP and AXA have only a few pre-nuptial agreements to conclude before setting a date for their much-anticipated wedding. (New Zealand Herald)