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CBA, NAB chief executives prepare for long-term Trump disruptions
Matt Comyn and Andrew Irvine offer a view of an uncertain environment where upheaval could create big productivity gains – or cause serious harm.
CBA says responsible lending rules shield it from rampant liar loans
The bank’s retail boss, Angus Sullivan, says there are, however, “a few areas” where a banker could coax someone through an application, so it needs to remain alert.
APRA holds firm against deregulation push
The banking regulator is resisting the US push for greater deregulation to boost growth. But can that last given the international upheaval under way?
APRA chair says directors need to have ‘the time’ to do their job
John Lonsdale defends the regulator against concerns it has heaped too much red tape on bank and superannuation fund boards.
Why CBA and NAB chiefs fear a double Trump hit
Australia has plenty of productivity challenges of its own, but Matt Comyn and Andrew Irvine see the US president’s policy chaos lingering for some time to come.
March
Productivity an issue from housing to energy: Irvine
Andrew Irvine tells the Financial Review banking Summit that productivity is a complex challenge and needs a variety of fixes. How the day unfolded.
Slash stamp duty to encourage retirees to downsize: ING
The bank’s local chief executive, Mel Evans, said shorter-term solutions to housing affordability were needed until more new properties hit the market.
APRA warns of ‘international upheaval’ in lending rules
The prudential regulator’s chairman John Lonsdale said it was unlikely that Australia would follow the US in moderating the requirement to hold capital.
‘You’ll never know your grandkids’: Banking’s wicked housing problem
Veteran analyst Jon Mott says property’s intergenerational affordability crisis comes from policy choices over four decades. Can bankers shift the dial?
NAB’s $230b business bank crown jewel faces its biggest test yet
Even on the day he was named as the bank’s chief executive, Andrew Irvine knew the barbarians were at the gate. Thirteen months later, they are over the wall.
NAB captain’s pick can’t make up for CFO’s shock departure
It’s one in, one out for NAB boss Andrew Irvine as he seeks to prove himself as a top Australian chief executive. Investors are wary.
November 2024
Banking’s next gen
Bank leaders face succession as shares peak, leaving newcomers to find growth in a challenging landscape
Two Westpac directors leave after just three years on coveted board
The resignations add to a significant transition for the bank, with a new chairman appointed last year and a fresh chief executive starting next month.
March 2024
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Non-banks raise $15b for mortgages the banks couldn’t write
The major lenders have warned tough rules are pushing borrowers to more expensive and riskier loans. But banks still dominate the market.
Five years after the royal commission, big banks have their mojo back
But the newfound assertiveness isn’t simply due to the fading of past humiliations. They are increasingly conscious their large size is now a huge asset.
Banks struggle to balance risk, reputation and regulation
Blowback over lending practices and perceived corporate greed means banks have become reluctant to take too many chances with their lending. But at what cost?
CBA, NAB business bankers want to take more risk as competition mounts
Business bankers believe lenders should diversify how they collateralise business loans, including methods such as equipment or invoice financing.
Banks warn growing risk aversion pushing borrowers into worse loans
National Australia Bank’s Ross McEwan says some prospective customers are being pushed toward riskier loans as the rules make lending more expensive.
Housing supply crunch brings questions about migration: NAB’s McEwan
The National Australia Bank’s chief executive said building approvals would have to rise to “well over 200,000” to sustain current immigration numbers.
Westpac and NAB back CBA, call for more scrutiny of Apple in payments
Authorities in the US allege the tech giant has locked the iPhone to build a monopoly. In Australia, banks say its digital wallet prevents competition.
The feeding frenzy that sent CBA shares to $120
Commonwealth Bank’s staggering $120 a share price came up a few times at The Australian Financial Review Banking Summit. Brian Johnson nailed why it had run so hard.
It’s time for banks to take more risk, not less
While the prudential regulator sees more stresses ahead for banks, top CEOs worry the sector has become too risk-averse. They’ve got three big ideas to drive growth.
Slash income tax, lift GST and levy tech giants: Comyn’s growth fix
Commonwealth Bank’s chief executive is advocating the changes as one way to turn around a forecast long-term economic slowdown.
How I would fix Australia's productivity challenges: Comyn
CBA CEO Matt Comyn freestyles some ideas to change political terms and reform tax to turbocharge Australia's productivity.
Has the pendulum swung too far, asks McEwan
Outgoing NAB CEO Ross McEwan asks if the pendulum has swung too far on banking regulation, leaving vulnerable Australians to payday lenders.