Today
Banks pick fight with RBA over wholesale payment fees
The central bank is considering stricter caps on “interchange fees” in its review of payment costs. Worth $2.1 billion annually, squeezing this could hurt competition.
- James Eyers
This Month
Will bank stocks continue to run hot this year?
After beating the ASX 200 by 24 per cent, shareholders are faced with a “challenging predicament” of whether to stick with the banks or finally take some profits.
- Updated
- James Eyers
Banks should face penalties for restricting loans under ESG
Readers’ letters on who banks should lend to, election promises, the ESG pushback, Star Entertainment’s bid for tax relief and Taiwan.
Banks stand firm on ESG after Dutton ‘woke’ jibe
Banks and their shareholders reject the claim “wokeness” is stopping them lending to fossil fuel and forestry businesses, arguing that commercial reality drives loan decisions.
- John Kehoe
- Opinion
- Chanticleer
Big banks make the most of Trump bump
The big four have been quick to make the most of hungry investors, raising nearly $20 billion in the past week.
- Anthony Macdonald
ANZ joins forecasters betting on February RBA rate cut
It and Commonwealth Bank agree that mortgage holders may finally get some relief next month, but they are the only two majors predicting that.
- Joshua Peach and Cecile Lefort
Super the key to untangling CBA share price puzzle: JPMorgan
New data shows superannuation funds increased their holdings in Australia’s big four banks last year despite fund managers’ moves to dump the sector.
- Emma Rapaport
Maverick Macquarie misfires as its business bet starts cold
The share of business lending commanded by Australia’s fifth major bank has flat-lined since last February.
- Lucas Baird
The top six business trends for 2025
Here are six themes we expect to make news in 2025, from professional services to crypto and artificial intelligence across offices, boardrooms and suburbs.
- John Davidson, James Eyers, Edmund Tadros, Sally Patten, Euan Black and Nick Lenaghan
December 2024
IMF calls for home lending crackdown when rate cuts arrive
The International Monetary Fund says regulators should consider tightening Australia’s already-stringent home lending laws, pushing back on a Coalition plan.
- Michael Read
Debit surcharge ban unfairly favours major banks, claims Square
The Block subsidiary introduced “blended” card payment fees which include using its software. They have become a flashpoint in the RBA’s payment cost review.
- Updated
- James Eyers
- Opinion
- Payments
There are more hidden costs to payments than people think
Consumers should not pay excessive surcharges, but a total ban will not lower the expense of card payments for businesses.
- Jon Davey
Westpac CFO retires, giving Miller chance to reshape leadership
Michael Rowland said he would leave next year, taking to three the number of senior positions to be filled by the bank’s new chief executive.
- James Eyers and Lucas Baird
How CBA’s $3 fee gambit nearly blew up the bank’s political capital
Bankers inside Commonwealth Bank’s retail division figured a small branch cash withdrawal charge was innocuous. They were wrong.
- Lucas Baird and James Eyers
Barrenjoey stokes political debate over APRA’s home-lending policy
The investment bank says a Coalition-led Senate committee report last month – challenging the prudential regulator on first home buyers – “appears logical”.
- James Eyers
ASIC sues HSBC Australia over slow scam response
ASIC claims some customers of the international bank lost $90,000 due to scammers, after warning it of suspicious activity on their accounts.
- Ronald Mizen and James Eyers
ANZ risk boss fed up with bank leaks
Executives are cracking down on would-be informants before the bank’s AGM as the board hopes to convince investors it has been tough enough on cultural failings.
- Jonathan Shapiro and Lucas Baird
- Opinion
- Chanticleer
CEOs say you cannot bank on falling interest rates
The big banks are telling customers that interest rate cuts are coming. Their big business clients are less sure.
- Anthony Macdonald and James Thomson
CBA’s relentless rally in five charts
The stellar advance in Australia’s biggest bank makes no “logical sense” to investors, yet the shares keep grinding higher. Here’s why.
- Cecile Lefort and Sarah Jones
Calls grow for Westpac to reveal energy transition plan thinking
Australian Ethical and Market Forces have put forward a resolution for a second year seeking more detail on the bank’s assessment of borrowers’ transition plans.
- James Eyers