Today
RBA proposes complete ban on card surcharging, saving shoppers $1.2b
The three-pronged overhaul of the current payments system would eradicate surcharges on all debit and credit transactions.
This Month
We need an alternative to 10-year board limits for directors
APRA should ramp up enforcement measures and ensure board accountability rather than increasing the compliance burden for non-executive directors.
Stubborn PE firms get stuck with non-bank lenders on their books
From La Trobe Financial to Pepper, there’s plenty of interest in the sector. But unrealistic expectations are getting in the way of real dealmaking.
Mortgage brokers’ growing power puts big banks on notice
Major lenders face an uphill battle to win back market share from the industry, which is now arranging about three-quarters of Australia’s residential loans.
MYOB to take on big banks with small business transaction accounts
It’s the latest battleground among the nation’s lenders in a sector that’s less exposed to the extreme pressure buffeting the home and consumer loan segment.
RBA’s rate pause delivers banks reprieve, but margin pressure remains
It is still a matter of when, not if, official rates fall further. And lenders have a terrible track record in passing on cuts.
Helia kicks off business review as ING contract loss tanks stock
The bank has opted to proceed with negotiations with a rival provider of lenders mortgage insurance, signalling yet another contract loss.
Carolyn McCann firms as Miller’s pick to run Westpac’s retail bank
The bank’s long-serving customer and corporate affairs chief is a frontrunner to permanently lead the major division after the departure of Jason Yetton.
June
The problem with our kids that should be on the productivity agenda
Jim Chalmers is considering long-term policy measures to buoy the economy. They must include addressing startlingly low financial literacy levels.
BoQ business banking chief quits just 3 months after appointment
Former investment banker Julian Russell had been the chief executive of FleetPartners before joining the Patrick Allaway-led regional lender in March.
Environmentalists accuse major banks of financing deforestation
The Australian Conservation Foundation said it used satellite imagery and land titles to connect properties where loans had been made and suspected clearing had occurred.
Maile Carnegie exits ANZ, Matos to search for new retail boss
Suncorp Bank chief executive Bruce Rush will temporarily take over the division for the bank, while a global search is undertaken for a permanent replacement.
Maile Carnegie reads the room as Matos wields new broom at ANZ
Having missed out on the top job, and with the new chief executive delivering a jolt to ANZ’s culture, Carnegie’s retirement is no surprise.
Singapore’s DBS Bank throws down gauntlet to ANZ
The new boss of the biggest lender in South-East Asia says Australian companies should take AirTrunk’s lead and be more ambitious about regional expansion.
Miners set for green investment boost from new classification system
New guidelines developed with Treasury will help banks and super funds reduce greenwashing by classifying economic activity based on its emissions profile.
The digital currency quietly taking over the global financial system
In an era where economic statecraft increasingly involves payment systems and financial sanctions, control over monetary infrastructure carries geopolitical weight.
This team boss is always ready to throw out her playbook
Being adaptable is a key skill, says ING Australia’s head of daily banking Dina Kotsopoulos a finalist in the Financial Review Women in Leadership Awards.
Westpac plunders more talent from CBA in business deposits push
Westpac wants to improve its standing in business deposits, where it trails in third place in terms of market share.
NAB’s retail boss sees opportunity in bank’s big business lending book
Ana Marinkovic was appointed to lead NAB’s personal banking division just over a year ago and has outlined a strategy that is heavy on cross-selling mortgages.
Why Afterpay could be coming to a supermarket checkout near you
Eight years after the first calls to bring BNPL under credit laws, Nick Molnar says the new regime will help it compete more aggressively with credit cards.