Big four
Updated
Executive shake-up
Westpac to shift gears on business banking, new CEO says
Incoming CEO Anthony Miller sees opportunities for growth in the agriculture, education, professional services and healthcare sectors.Â
- by Sumeyya Ilanbey
Latest
Opinion
Home loans
Rise of the mortgage broker: Battle brews over home loan spoils
Major banks are engaged in a rearguard action to retain relationships with home loan customers, after the transformative rise of mortgage brokers.
- by Clancy Yeates
Westpac whistleblower ‘bullied’ after raising suspected criminal activity complaints at RAMS
A Westpac whistleblower has said she was bullied after making internal complaints about suspected criminal activity at the bank’s RAMS Home Loans mortgage broking subsidiary.Â
- by Sumeyya Ilanbey
Opinion
Bank fees
Card surcharges are costing us billions, but can they be avoided?
The government estimates that major banks and card providers netted a whopping $4 billion in the past year from Australians, all thanks to surcharges.
- by Victoria Devine
ANZ traders exited over intoxication, profane language: Shayne Elliott
Three ANZ traders left the bank after an internal investigation found they used profane language in the Sydney dealing room.
- by Sumeyya Ilanbey
CBA is taking down 50 fake websites a week. The boss wants tougher rules
As he defended the bank’s $9.8 billion profit before a parliamentary inquiry on Thursday, CBA boss Matt Comyn also called for an overhaul of the tax system.
- by Millie Muroi
Adam Bandt pledges to supersize corporate taxes
To sweeten the deal, the Greens say much of the revenue would pay for cost-of-living measures, such as including dental cover in Medicare.
- by James Massola
ANZ hit with extra $250 million capital charge over poor culture concerns
The Australian Prudential Regulation Authority has expressed it has heightened concerns about ANZ’s corporate governance stemming from the bank’s bonds trading scandal, and demanded the bank holds an extra $250 million in capital until it cleans up its cultural problems.
- by Sumeyya Ilanbey
Banks gouging $4 billion from customers for cashless transaction fees: MP
A Labor MP has accused the big banks and credit card providers of stinging consumers $4 billion annually through card surcharges imposed by small retailers.
- by Shane Wright
Opinion
Interest rates
Banks make sneaky cash grab as deposit rates trimmed
Some would call it a margin-plumping exercise – the banks prefer to think of it as margin protection. Either way, it’s good for bank profitability.
- by Elizabeth Knight
Updated
Earnings season
CBA chief sees economic rebound as bank posts $9.8b profit
Matt Comyn is expecting some relief for households over the next year after a post-pandemic downturn that has depleted household savings to historic lows.
- by Sumeyya Ilanbey