Today
What to expect from ANZ’s new chief executive Nuno Matos
If the new ANZ boss’ execution mandate turns into executioner, investors will not mind. The first 100 days will be telling.
March
Westpac plots $3b technology overhaul to slash long-term costs
The bank’s new chief executive, Anthony Miller, outlined plans to shrink the number of systems to cut expenses described by analysts as unsustainable.
ANZ backflips on culture review and agrees to release report in full
The Melbourne-based bank’s board will meet this week to consider a report into governance in its markets unit authored by consultants at Oliver Wyman.
‘Adopt not adapt’: How to deliver a $60m tech project on time
PwC tech consultants achieved the rare feat of delivering a $60 million tech project on time and on budget by resisting the urge to overly customise.
Aussie franchisees to lob complaint with ACCC, amid bullying claims
Commonwealth Bank-backed Aussie Home Loans is embroiled in a stoush with a group of its franchisees, in a dispute that is headed to the ACCC.
ANZ quizzed over risks of new platform costing $1m a day
Analysts wondered how long it will take to fully migrate 6 million customers and another 1.2 million from Suncorp onto Maile Carnegie’s ANZ Plus.
CBA contract loss sends Helia into spiral days after CEO sell-down
The company, formerly known as Genworth, said the bank had entered exclusive negotiations with one of its rivals and its lucrative agreement would end.
Westpac targets defence lending as banks deepen national security ties
Under pressure from the Trump administration, major economies are increasing their military spending. The big lenders can see opportunity to provide financing.
Banks campaign for cash levy to avoid Armaguard ‘monopoly’
Twenty banks spending millions each year to provide cash to country towns are forming a campaign to renew focus on the need for a regional bank levy.
It’s the private credit liquidity trap that poses real investor risk
It’s an interesting time for Brookfield-owned lender and real estate private credit firm La Trobe Financial to kick off a sale process for the business.
Inside Project Aries: Westpac’s secret plan for St George
The major lender has already shrunk the number of branches and closed a subsidiary’s private banking division. Now it’s considering the next steps.
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 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.
We taught Macquarie how to do mortgages: ING boss
The Dutch giant wants to chase its copy-cat in mortgages and business lending, in another indication of the red-hot competition the big four banks face.
RBA alarm over banks’ plans to shut key payments system
The Bulk Electronic Clearing System, which handles almost $18 trillion in payments, is being replaced. But the troubled transition has the RBA worried.
Banks deploy mobile branches, generators to cyclone zone
Major banks have sent mobile banking units powered by their own diesel generators to Brisbane, after Armaguard halted cash deliveries to ATMs due to high winds.
Westpac’s head of retail banking to depart
Jason Yetton’s exit comes after the company last year appointed his leadership rival, Anthony Miller, as its chief executive.
‘Too small to fail’: Small banks push for subsidies
Customer-owned banks have told the Council of Financial Regulators they may need credit rating support, debt guarantees and government subsidies to survive.