Banks rake in an extra $125 million
DAYS after Westpac jacked up its interest rates, we can reveal how the big four banks have managed to rake in a massive $125 million.
Banking
Westpac’s rate hike rakes in millions
WESTPAC stands to make an extra $1.59m a day by raising interest rates on all home loans, in a strategic move made ahead of a likely Melbourne Cup rate cut.
Westpac hikes mortgage rates
WESTPAC is raising its variable mortgage rate by 20 basis points from next month, in what the lender described as a “difficult decision not taken lightly”.
$7 million ‘a drop in the ocean’
A LAWYER for the mastermind behind Australia’s worst insider trading scam says his jail term should be cut because his profit was relatively small.
Memo to the big banks: You had one job
OPINION: Memo to the big banks: Australians don’t want ‘cheesy’ social media campaigns. They just want a bank that does what it’s supposed to do.
Why this deal makes us big winners
IT IS the historic deal that promises “enormous benefits” for all Australians. Here’s why we were big winners from the trade talks.
‘Disgraceful’ banking outage finally over
FAMILIES on overseas holidays may have had their travel plans curtailed, but at least they can finally access their accounts with Westpac-owned banks.
‘Surreal’ failure that started the GFC
THE man who sat at the front seat of the 2008 crash has revealed the ‘surreal’ failure that started the worst financial crisis since the Great Depression.
ANZ boss Mike Smith bows out
AFTER months of speculation, ANZ chief executive Mike Smith is stepping down after eight years in the top job at the bank.
Banks take spying to the dark web
BANKS have begun hiring hi-tech security firms to spy on their employees, monitoring everything from social media posts to dark web activity.
Bank trick: holiday with your mortgage?
LUXURIOUS holiday destinations including Paris and New York are the latest bait being used by banks to lure in new mortgage customers.
CommBank restores services after meltdown
COMMONWEALTH Bank says services have finally been restored after its latest meltdown, which left customers unable to access their cash this morning.
Why Westpac banks are shrinking
ARE smaller branches with more hi-tech equipment the future of banking? Westpac bosses think so. But what will it mean for customers?
How banks profit from ‘zero per cent’
A ZERO balance transfer deal on your credit card may seem like a great idea at first, but it turns out that it does not necessarily help pay off your debts.
Abbott scraps bank deposit tax
DENYING reports that the Treasurer’s job is on the line, the Prime Minister has announced the axing of the $1.5 billion bank deposit tax.
Finance gurus unleash on the banks
FINANCE experts Ross Greenwood, David Koch and Paul Clitheroe don’t always agree — but they’ve just united to slam the banks over ‘unconscionable’ credit card lending.
CommBank back online after outages
UPDATE: Commonwealth Bank’s systems are finally up and running again. Customers around the country were unable to access NetBank or make payments for several hours today.
Big banks: ‘Your number is up’
AUSTRALIA’S big four banks may be forced to up their game soon, with fresh calls for a shake-up that would end their decades-old dominance.
Red tape adds pressure to card rates: CBA
THINK your credit card’s interest rate is too high? Don’t blame the bank, CBA says. It’s the fault of regulators and politicians and it’s going to get worse.
Bank chief’s eye-watering salary
THIS bank boss makes double the average Australian’s annual salary every week. And he’s not even the country’s highest-paid banker.
CBA customers can buy food today
TWO days after a computer glitch left CommBank customers in the red, the bank has finally processed all refunds. But some of those charged overdraft fees are still waiting.
Commonwealth posts record profit
THE Commonwealth Bank has posted a record full-year profit, the largest by any bank in Australia, and is giving shareholders the option to buy more shares.
Finance news you need to know
THE Commonwealth Bank has reported a five per cent rise in full-year net profit to a record $9.063 billion, while CBA shares went into a trading halt as it announced a $5 billion capital-raising.
Big banks face bold new threat
ALL over the world, big banks are under attack. The public’s plummeting trust has opened the way for a new rival to emerge.
The flight to London that costs $853,333
WHAT are you doing in 2062? That’s the year members of this reward card loyalty program will be able to claim a flight to London, if they spend up big.
Council’s $1 million credit card rort
RATEPAYERS in one Sydney shire have been slugged up to $1 million to pay their rates. Is it time to tell the rip-off merchants we’ve had enough?
Dump your slacker Facebook friends now
YOU are the sum of your Facebook friends — and those slackers from high school could hold you back from getting a bank loan. It’s time for a cull.
Customer fury at CommBank fail
COMMONWEALTH Bank cards have suffered a major outage, leaving thousands of people stranded and unable to access their money.
Aussie travellers stranded cashless
DISTRESSED Australian holiday-makers around the world have been left stranded without cash after a glitch with their Commonwealth Bank travel money cards.
Bitcoin baron nabbed in Japan
MARK Karpeles, the head of the collapsed MtGox Bitcoin exchange, has been arrested amid fresh accusations of fraud.
Original URL: https://www.news.com.au/finance/business/banking/page/56