Aussie bank boss’ shock rates prediction
The Westpac Group boss believes the Reserve Bank will begin cutting rates from early next year, forecasting the figures rates will settle at.
Westpac
Bank chiefs say young hit hardest by rates and inflation
The cost of living and higher interest rates are hurting younger Australians more than most, the chief executives of Commonwealth Bank and Westpac have warned.
ASX 200 ends 0.3pc lower with energy, consumer-exposed stocks hit
WATCH LIVE: Westpac CEO Peter King speaking during parliamentary Q&A. CBA boss vows to continue lending to gas projects. Ellison’s fortunes hit in MinRes dive. Qantas, South32 flag buybacks as profits fall. Cettire down on profit slump.
Dwindling sector leaves Aussies open to social media scams: Westpac chief
Westpac chief executive Peter King told a parliamentary committee that investment scams were ‘way too common’ with many people turning to social media platforms such as Facebook to get advice, an issue exacerbated by a big fall in financial advisers.
Westpac CEO calls for social media ‘regulation’
Peter King wants the federal government to regulate social media giants such as Facebook if they do not take more action to crack down on financial scams on their sites.
Win for millions as major bank slashes rates
Another major bank has moved to slash fixed and variable rates, following other lenders including Westpac and NAB.
ANZ takes big four’s ‘bad bank’ crown
Even if the prudential regulator has pre-empted an investigation into ANZ’s bond trading, it believes the bank’s stumbles point to a broader trend.
Major bank slashes fixed interest rates
Another of the major Aussie banks has cut mortgage rates, helping people scraping together repayments or a house deposit.
Why fixed interest rates are falling but not variable
Battered borrowers watching fixed interest rates fall may still have to wait a few more months for variable home loan relief. Here’s why
Fleeced by criminals via big tech
It’s up to Meta to protect users and in failing to act, the tech giant is treating vulnerable customers with contempt.
Loan margins improve as Westpac posts flat revenue
Westpac chief Peter King offered an upbeat note as margins improved, and lending and deposits also grew in the quarter.
Reporting season points to improving demand outlook
Australia’s August results announcements are giving hope of an earnings recovery linked to an improving demand outlook despite higher interest rates.
Bank boss’s warning in cost-of-living crunch
More Westpac mortgage holders are falling behind on their payments while the bank posts a flat $1.8bn profit for the latest quarter.
ASX 200 up; banks gain; A2M, BlueScope dive
Mixed reactions to Westpac update. BlueScope falls on FY24 profit drop. A2 Milk plummets on missed expectations. Lendlease losses grow. Australian Vintage, SkyCity flag impairments. Reece tanks on near-term challenges.
Former Westpac banker to launch boutique advisory firm
Westpac’s former head of mergers and acquisitions, Harvey Carter, is believed to be launching a boutique advisory firm with a focus on deals related to financial services and investments.
Social media giant hit by scams fury from Westpac
Meta has been accused by Westpac of failing to deal with a scam and fraud epidemic, with the big four bank taking aim at the tech player for failing to deal with fake posts.
New NAB boss raises the bar
In her first interview as head of NAB’s corporate and institutional bank, Cathryn Carver talks culture, customers and growing the business.
Major bank shuts down troubled lender
One of Australia’s banking giants has shut down a home loan lender, ending a 33-year-run for the troubled business.
Westpac calls time on troubled lender RAMS amid class action
Westpac will immediately close RAMS to new home loan applications and while the bank has settled with franchisees, about 150 support staff are yet to learn their fate.
‘Like a movie’: Sydney fintech scores $37m for US expansion
Westpac-backed Rich Data Co has secured $9m from Acorn Capital to complete its Series B raise as it eyes signing up more US banks to its tech that uses AI to accelerate lending decisions.
Westpac tipped to sell off auto loan back book
Westpac is believed to be offloading its retail auto loan back book in a move that some industry experts expect will see it wind up in the hands of a debt collection company.
Westpac inks safety deal with Optus
Westpac has signed a deal with Optus which will see the bank’s customers take calls through their banking app in a bid to defeat scammers.
Horror reason couple nearly lost $350k
A Queensland couple thought they were investing their cash safely, but when their bank got involved, they learned how close they’d been to losing a small fortune.
Sustainable tree-clearing or deforestation? Graziers take on EU
Land clearing rates in Queensland have fallen 64 per cent since controversial vegetation management laws were introduced.
Time to start talking about the big five banks?
Australian investors switching out of newly crowned top stock Commonwealth Bank are getting better returns at Westpac and a rising Macquarie.
APRA gives Westpac $500m capital reprieve
The prudential regulator has halved the additional capital imposed on Westpac for compliance and governance failures, citing improvements in the bank’s culture and risk management.
CrowdStrike issue has been ‘identified, isolated and a fix has been deployed’
CrowdStrike chief executive George Kurtz said late on Friday a ‘defect found in a single content update for Windows hosts’ caused the outage that struck millions of people across the globe and dozens of Australian companies.
Legal action call as low-income earners wrongly charged millions
Australia’s biggest banks face legal action and will have to repay $28m for systemically charged high fees to those customers who could least afford it, an ASIC investigation has revealed.
Westpac vows to invest in Pacific banking
Westpac has pledged to invest in its Pacific banking operations, as the US and Australia attempt to stem the retreat of Western banks from the region.
CBA, Westpac still expect RBA to lower rates this year
A November interest rate cut is still on the cards according to CBA and Westpac economists as the central bank seeks to protect employment gains as much as possible.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/4