Australia's NAB feels squeeze

Article Abstract:

National Australia Bank Ltd. is extending credit to affiliates in response to the negative impact of subprime loans stemming from US mortgages. NAB has put approximately A$6 bil worth of loans onto its balance sheet after affiliates, known as conduits, securitizing lender mortgages called on the bank's standby credit facilities. NAB may have as much as A$11 bil worth of these loans by the end of September.

Commercial Banks, Financial management, Banking industry, Australia, Finance, Company financing, National Australia Bank Ltd.

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Allianz profit rises 21% despite subprime woes

Article Abstract:

Third-quarter net profit for German insurer Allianz SE rose by 21% to reach 1.92 bil euro, boosted by a 119 mil euro tax gain and comparatively moderate claims for storms and flood damage which offset the firm's exposure to current credit problems stemming from subprime loans.

Sales, profits & dividends, INSURANCE CARRIERS, Germany, Insurance industry, Company sales and earnings, Company earnings/profit, Allianz Aktiengesellschaft Holding, Financial report

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