Banks face crisis, warns Morgan
Banks face a crisis similar to the GFC and are under pressure to raise capital and cut dividends, former Westpac chief David Morgan says.
Westpac
Westpac probe a ‘star chamber’
Fair Work has ordered Westpac to compensate and reinstate a sacked worker after finding the bank’s investigation was flawed.
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D-Day looms in Cormack battle
A ruling on Michael Kroger and the Victorian Liberal Party’s clash with the $70m Cormack Foundation is due any day now.
Tangled up in banking blue
Kirby & Kohler reflect on a week of sad stories at the bank inquiry as they mark Bob Dylan’s birthday.
Both sides claim rate-rig ‘win’
All but four charges against Westpac were dismissed, but ASIC can claim a significant victory in a rare verdict.
Judge ponders use of the F-word
Jonathan Beach felt bankers’ “rich and diverse” language was key to his ruling on a rate-rigging case. He went into some detail.
Westpac ‘tried to rig rate’
Westpac acted unconscionably by trying to rig a key interest rate, a court found, but has been cleared of market manipulation.
Sell, sell, sell: bonus culture rife
Westpac bankers still receive bonuses largely based on selling financial products, the royal commission has heard.
Pie franchise fights to earn crust
The way banks deal with the franchise industry has come under the spotlight of the financial services royal commission.
Blind woman’s tale ‘confronting’
A Westpac executive has admitted he found it ‘confronting’ to hear the bank allowed a blind pensioner to act as a guarantor.
UBS still wary of Westpac loans
Westpac’s mortgage book continues to concern UBS analysts despite a spirited defence from the bank’s CEO.
Westpac CEO defends loan book
Westpac chief Brian Hartzer has launched a strident defence of his lender’s $600bn mortgage book.
Westpac keeps it clean
After the abrupt eviction of long-time resident CBA, there’s an attractive vacancy in banking for a well-behaved market leader.
Westpac dives amid loan doubts
Westpac shares yesterday suffered their single biggest one-day loss since the Brexit market rout two years ago.
Westpac failed to flag concerns
Westpac did not pass on “serious concerns” about a financial planner to his subsequent employer, bank inquiry hears.
Westpac crackdown on lending
Westpac has launched a crackdown on declining lending standards in the $1.6 trillion home loan sector.
Westpac ‘liar loans’ crackdown
Westpac will start grilling home loan customers on their spending on everything from pet insurance to gyms and gambling.
‘Westpac most resistant to laws’
Westpac was the “most resistant” of the big banks to obeying the law and had “poor culture”, according to an ASIC memo.
Bank still pays flex commissions
Westpac has made no move to stop paying car dealers huge commissions they set for themselves.
Fallout of Hastings sale spreads
Investors in Utilities Trust of Australia have dumped Hastings Funds Management as its manager pending April vote.
Calls leave Westpac red-faced
Bank staff talk revealed: lesbian threesomes, RBA interventions and traders “steamrolling” the interest rate market.
BBSW ‘like NRL wild bets’
Westpac director compared the alleged manipulation of the bank bill swap rate to bets placed on the 2010 NRL grand final.
Westpac trader grilled
The fate of a rate-rigging lawsuit against Westpac rests in part on the meaning of the word ‘f..k’.
Watchdog gets bite on Westpac
The corporate regulator yesterday won a battle in its rate-rigging war against Westpac.
Bank weight stalls ASX 6000 run
ASX bulls skid to a halt as seasonal weakness in major bank stocks and a $2.4bn Westpac hit weigh on sentiment.
Northill Capital wins Hastings
Northill Capital is believed to have won the contest for Westpac’s Hastings Funds Management.
Westpac in so deep it ‘fixed rate’
Emails between Westpac executives and traders have revealed the level fruity language used on the bank’s floor.
Westpac BBSW trial to go ahead
Westpac will head to court Tuesday morning, as ANZ and NAB sign agreements with ASIC over the rate rigging case.
Westpac blasted for Yes email
Westpac has been accused of ‘blackmailing’ staff into supporting same-sex marriage.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/39