Home loan hardship on the rise: CBA
Commonwealth Bank’s home loan customers facing financial hardship have soared to more than 7000, CEO Matt Comyn said after the bank posted a slight fall in interim profits.
Commonwealth Bank’s home loan customers facing financial hardship have soared to more than 7000, CEO Matt Comyn said after the bank posted a slight fall in interim profits.
From a flashy trader in the 1990s, Nicholas O’Kane rose through the ranks at Australia’s ‘Millionaire Factory’ and leaves it after amassing $170m-plus in pay over six years.
Macquarie remains upbeat about its outlook as Simon Wright replaces Australia’s highest paid banker Nick O’Kane at the helm of the financial giant’s biggest money-spinning division.
Australian managed funds haemorrhaged a record net $31bn in 2023 and the wound is set to deepen with the $177bn exchange-traded fund industry poised to triple in size this decade.
The Australian sharemarket hangs in the balance this week as a wave of major earnings reports could either solidify hopes of a soft landing or trigger turbulence.
The country’s largest super fund is urging the Albanese government to combine accumulation and retirement accounts into a single superannuation ‘account for life’.
British fintech Revolut is planning to launch credit cards in Australia and boost unsecured lending, as cash-strapped households turn to debt to cover expenses.
Scott Hartley has a big job ahead of him at the wealth manager, amid a hefty drop in adviser numbers and persistent outflows.
Workers across superannuation and investments want access to generative AI tools to boost efficiency and productivity, tech chiefs in those sectors say.
Suspicious payments will be flagged across 150,000 Westpac accounts with power of attorney arrangements as part of a new alert system to tackle financial abuse.
Original URL: https://www.theaustralian.com.au/author/paulina-duran/page/7