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Commonwealth Bank The Australian

Details: Australia has the opportunity to become a ‘significant supplier’ of carbon credits globally, and Commonwealth Bank wants a slice of the action. 1633869000. By Joyce Moullakis. October 7, 2021

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ANZ The Australian

Details: ANZ Bank has been slammed for putting profits ahead of people after shutting more than 100 bank branches nationally in just over 12 months. 1613293380 By …

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New Avenue for banking as licence granted

Details: The prudential regulator has granted Avenue Bank a licence to operate as a restricted bank, as the Liberty Financial-backed group prepares to launch its first products for business.

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How the big banks got it wrong on super

Details: Accordingly, the bank merger mania which took place between 2000 and 2002 has lessons for every CEO in Australia who seeks to grow by takeover. I …

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As Westpac pursues its $300m, it’s clear the big banks

Details: In 2011, Commonwealth Bank was the victim of phony invoices and lost $55m from financing Viking Fleet Services, which had links to the Comanchero bikie gang. In 2003, National Australia Bank was

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Banks to reset dividend payouts: Citi

Details: Bank net interest margins are also set to stabilise after a sustained period of decline, as funding costs ease, they said. “We think reported net interest margins will stabilise at 1.85 per cent

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Bitcoin trader kicked out of 90 banks over cryptocurrency

Details: Debanking is when a bank chooses to no longer offer banking services to a customer. In some cases, Ms Juric’s customers have received calls from their own banks warning her …

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Commonwealth Bank’s vaccination clinic rollout kicks into …

Details: Commonwealth Bank has set a target of vaccinating its 6500 staff across western Sydney after rolling out three vaccination hubs, with five more on the way. The nation’s biggest bank has been

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CBA plans $100m private banking expansion

Details: Commonwealth Bank will spend $100m over three years to expand its private bank and consolidate its leadership in the high-net-worth market segment. …

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Commonwealth Bank plays down housing debt fears

Details: Commonwealth Bank retail boss Angus Sullivan says record low interest rates are spurring an increase in the debt mortgage borrowers are prepared to …

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Banks warn of risk to funding from climate and other ESG

Details: National Australia Bank institutional boss David Gall said ESG was the dominant theme in a quarter of investor meetings – getting to net zero and the transition of clients.

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Big four banks to announce $15bn in share buybacks over

Details: The four major banks are likely to announce 15 billion in share buybacks over the next year, with Commonwealth Bank to kick off the bonanza with a 5 billion deal at this years annual result

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Citi to exit consumer banking in Australia

Details: The global consumer bank, which serves clients in 24 countries, offers a range of retail banking services and products, including deposit accounts, foreign currency deposits and investments

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CBA joins other banks in nudging up fixed mortgage rates

Details: Commonwealth Bank has lifted mortgage rates on two and four-year loans by 0.05 per cent, joining a deluge of banks to do so in recent months. The move by the CBA takes the bank

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Banks bring back loan deferrals

Details: Commonwealth Bank chief executive Matt Comyn said the pandemic continued to impact businesses across Australia, with small businesses in particular …

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Judo Bank’s new $80m investor play before possible IPO

Details: Judo Bank, co-founded by Mr Healy and former co-chief executive and now non-executive director David Hornery, has a team of 300 bankers with offices in Adelaide, Sydney, Melbourne, Perth and Brisbane.

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World Bank cancels flagship ‘Doing Business’ report after

Details: The World Bank cancelled a prominent report rating the business environment of the worlds countries after an investigation concluded that senior bank

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NAB The Australian

Details: NAB in box seat for Citi retail banking arm. The banking major is in a stronger position to buy Citi’s $2bn Australia and New Zealand personal banking business, as Dutch bank

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APRA’s $1.5bn hit on bank culture

Details: The bank had so far implemented 20 per cent of the recommendations that came out of its self-assessment, he said. Commenting on the $500m capital add-on imposed on NAB, CEO and chairman-elect

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NAB’s misstep on branches in regional Australia

Details: Importantly, a bank branch in a town is an enormous community asset, and once it closes it sparks a chain reaction. Empty shopfronts breed empty …

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Staff sparse as CBA unveils complex

Details: The bank boss said that more employees returning to work in corporate locations, with about 4000 people already working from its Sydney head office.

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Big four banks to shift again on climate and resources

Details: The bank rejected assertions that it had actually gone backwards, saying it would update the scenario when the IEA released the latest data – coincidentally on …

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Westpac lures Deutsche exec Anthony Miller to head up

Details: Westpac has announced Deutsche Australia boss Anthony Miller as the new head of its institutional bank. Teh news came on Thursday after Deutsche confirmed the resignation of …

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ASX 200 -0.6% as APRA hits banks, US futures fall The

Details: Welcome to the Trading Day blog for Wednesday, October 6. Australian stocks are down 0.5 per cent in the afternoon as sharp bank falls and travel losses offset tech gains. Australia’s share

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Banker pay in spotlight as NAB takes axe to staff bonuses

Details: But they will also touch the personal bank and business and private bank, by early calendar 2022. So called “enabling units” are subject to a 12 to 18 month transition.

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Bank of Queensland set for growth through fixing ME Bank

Details: Bank of Queensland will look to reinvigorate ME Banks mortgage growth by cutting down on the lenders loan turnaround times and delivering easy …

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CBA, Westpac shake-up private banks, cut management numbers

Details: Its private bank structure has state-based managers in addition to north and south regional leadership. ANZ’s private bank has had a north and south leadership reporting structure for …

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ANZ lifts its game with tech transformation

Details: The bank is tight-lipped about the overall cost, saying some of its $1.4bn annual capital expenditure budget will be diverted, but it baulks at any comparison to the $1bn-plus core banking

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Covid-19: ‘The big four banks have betrayed regions’

Details: A CBA spokeswoman said the bank had made the “difficult decision” to close the Molong and Blayney branches, which had reported 45 and 37 per …

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ANZ chief Shayne Elliott says banks should solve their own

Details: One example was lending to small business, where non-bank financial institutions were typically charging interest rates of 20, 30 or 40 per cent. “So that is where there is a lot of disruption

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National Australia Bank kicks off hiring blitz in JBWere

Details: National Australia Bank is embarking on a fresh hiring spree in its private bank and JBWere unit over the next 12 months, with 60 bankers, advisers and investment staff to …

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Bank to use online chat for customer service

Details: The bank's internet banking platform Netbank already allows customers to chat with a its employee over the internet to request information during the …

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APRA warned banks of risky lending as housing market boomed

Details: On Friday Reserve Bank government Philip Lowe told a parliamentary committee that while home lending standards were “sensible and reasonable”, fast-growth in …

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Macquarie finds buyers for $800m Martin Place tower

Details: Investment bank Macquarie Group has unveiled the largest property deal of the year by selling an under-construction office tower in the heart of Sydneys CBD to Investa and Canadian l …

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‘It’s not about family farms’: ANZ defends ‘net zero

Details: The bank will seek to inject funding into sustainable finance investments, including green buildings, low-emissions transport, reforestation, renewable ­energy …

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Banks ‘at risk from criminals’: Austrac report warns of

Details: The report looked at the criminal environment and found money laundering was the primary threat facing major banks, followed by tax evasion, drug trafficking, frauds and scams.

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NAB overtakes Westpac, but CBA still light years ahead

Details: National Australia Bank has launched a successful stealth attack on its diminished rivals, inverting the major-bank rankings so that only Commonwealth Bank now lies ahead of …

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Climate activist group Market Forces targets big four

Details: Climate activist group Market Forces has lodged shareholder resolutions with three major banks, calling for an end to billions of dollars in financing for new fossil fuel projects.

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NAB resumes closing regional branches after two-year

Details: Australias biggest agribusiness lender, NAB, has quietly begun closing regional bank branches, blaming COVID-19 for a fall in foot traffic in country areas as more people bank online.

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CBA, Westpac, NAB and ANZ will not pass on variable rate

Details: NAB, Australia’s biggest business bank, will also cut 200 basis points from the rates on its unsecured QuickBiz Loan for the next three months. ANZ is …

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Westpac branch manager gambled at Crown Resorts’ Perth

Details: A former bank manager who was jailed after stealing millions of dollars from his employer to fund a gambling addiction was an active high-roller at Crown Resorts Perth casino until his arrest

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Westpac offers variable rate mortgages below 2 per cent

Details: The bank, however, has also lifted the price for some fixed-rate loans. A note to mortgage brokers revealed the move to cut and hike interest rates in …

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ANZ $1.5bn share buyback overtakes CBA

Details: ANZ has usurped Commonwealth Bank and will kickstart the sector’s wave of billions of dollars in capital returns to investors, with a share buyback of up to …

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Xinja pulls off $433m raising without public burden

Details: The Australian digital bank has attracted a two-year cash injection of $433m from United Arab Emirates wealth fund, World Investments, with an upfront handout of $160m already provided. The

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Covid-19 lockdowns starting to slow growth in banking sector

Details: The Macquarie note said housing growth for the major banks, excluding the troubled ANZ Bank business, moderated to 6-7 per cent from double-digit annualised growth in June.

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Reputational damage for Macquarie from Nuix fallout will

Details: Interestingly, the Reserve Bank’s latest bulletin found available evidence across global markets indicated lower interest rates typically had “a negligible to modest negative effect on bank

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ME Bank hit with criminal charges from ASIC

Details: The corporate regulator has slapped ME Bank with criminal charges in the Federal Court for making false or misleading representations and breaching the …

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