November 2021
CBA shares savaged over shrinking margin
Investors have sliced almost $15 billion from the valuation of Commonwealth Bank on fears that continued low interest rates will weigh on profitability.
CBA first quarter cash profit up 20pc to $2.2b
Australia’s largest bank’s upward swing in net profit has not been enough to save it from a savage sell down on margin fears.
Tic:Toc taps ASX for chairman, takes aim at big four
Digital home loan platform Tic:Toc has taken another significant step in its development with the appointment of Yasmin Allen as chairman.
ANZ abandons one-off asset finance deals
ANZ will not accept standalone asset finance deals from December 1 putting close to $1 billion in annual lending at risk.
NAB backs higher mortgage buffers to avoid housing crisis
National Australia Bank chief executive Ross McEwan says people cannot afford to wait for higher interest rates to cool the property market.
Hard work starting to pay off for NAB: McEwan
Australia’s biggest business bank has delivered a steep rise in cash profit and second half dividend underpinned by a $3 billion swing in provisions.
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ANZ executives enjoy rebound in cash bonuses
Fixed pay was flat for most of the bank’s executives, but the increase to cash bonuses should offset any lingering concerns about inflation.
Failed crypto company collapses owing $21m
Blockchain Global has entered voluntary administration just weeks after it was ordered to disclose its assets.
Westpac under pressure on turnaround promise
The bank’s promise to grow the business while cutting costs is under the spotlight as investors dump shares after a disappointing result.
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Westpac can fund the energy shift: Peter King
Despite a retreat from Asia, Westpac boss Peter King says it can still play a role funding renewables as ANZ steals a march.
Westpac shares plunge on cost pressures despite $3.5b share buyback
Westpac shares have been sold off sharply in the face of rising cost pressures and competition from rivals in mortgages with an attractive $3.5b off-market buyback unable to satisfy investors.
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October 2021
ANZ to bank the energy transition
CEO Shayne Elliott says its history of financing big resource projects puts it in a strong position as the bank announces a 65 per cent rise in profit.
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ANZ missed the home loan boat, prepared for higher interest rates
ANZ’s boss and a senior executive admit they were caught wrong-footed by the surge in home loan applications, and they are hoping for better days.
ANZ profit rises despite flat home loans
ANZ Bank released provisions as the economic outlook improves, says delayed mortgage approvals are now behind it, and pointed to new digital offerings.
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Final tranche of Hayne reforms a ‘significant milestone’
The federal government looks to draw a line under Hayne after expanding the executive accountability regime and establishing a compensation scheme of last resort.
Experts dazed and confused by APRA’s risk culture pilot
Risk experts are confounded by the design of a risk culture survey to be rolled out to the banking sector over coming weeks.
Bank branches and ATMs vanish as customers avoid cash like the plague
Banks are closing branches and ripping out ATMs as customers increasingly prefer to do business online.
The companies on the block in Australia’s M&A boom
Dozens of Australian companies are bracing for a knock on the door as one of the hottest mergers and acquisitions booms plays out.
Nano makes giant leap with Oracle deal
Fintech inks deal with global giant that could see it touch every new-to-bank home loan issued by Westpac and NAB.
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Lending curbs should target investors not homeowners: Defence Bank CEO
The lender with a skew to younger customers says lending restrictions shouldn’t penalise aspiring homeowners.