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The Latest News from banking

Building costs in the frame for ongoing housing crisis

Building costs in the frame for ongoing housing crisis

The Reserve Bank says it is closely monitoring the housing shortage, but dismisses reports a construction union is to blame for escalating costs.

Shareholders still cash in as CBA profit slips to $9.5b

Shareholders still cash in as CBA profit slips to $9.5b

Shareholders still cash in as CBA profit slips to $9.5b

Shareholders still cash in as CBA profit slips to $9.5b

Commonwealth Bank's net profit after tax was down six per cent to $9.5 billion in 2023/24 but Australia's biggest bank is increasing its dividend.

AMP shares surge on 'transformational' advisor deal

AMP shares surge on 'transformational' advisor deal

AMP shares surge on 'transformational' advisor deal

AMP shares surge on 'transformational' advisor deal

The once-mighty financial services company AMP has announced a "transformational" joint venture for the loss-making advice division.

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Money launderers jailed over $63 million operation

Money launderers jailed over $63 million operation

Two men have been jailed for at least three years for their involvement in a multi-million dollar money laundering operation.

Scams help push financial complaints to record levels

Scams help push financial complaints to record levels

Financial complaints have reached a record high after disputes to the ombudsman service went up a further nine per cent to more than 105,000 in 2023/24.

Warning to Aussie firms on mandatory climate reporting

Warning to Aussie firms on mandatory climate reporting

A survey of climate change strategies and disclosures of Australia's top 200 companies has found their plans need to be credible and backed by science.

ANZ admits 'unacceptable failure' as bond probe ongoing

ANZ admits 'unacceptable failure' as bond probe ongoing

ANZ's chief has issued a personal apology to the Australian Office of Financial Management boss as investigations into trading and conduct issues are ongoing.

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Call for ad ban on easy credit for groceries, medicines

Call for ad ban on easy credit for groceries, medicines

Call for ad ban on easy credit for groceries, medicines

Call for ad ban on easy credit for groceries, medicines

A popular form of credit to encourage online shopping has morphed into a crutch for trying to stay a step ahead of financial disaster, an inquiry has been told.

Banks improve climate funding, but work to do: report

Banks improve climate funding, but work to do: report

Banks improve climate funding, but work to do: report

Banks improve climate funding, but work to do: report

The big four banks have made significant strides to curb lending for fossil fuel projects but a report says they still have not met their own climate targets.

Banks lashed for ripping off poorer customers

Banks lashed for ripping off poorer customers

Banks lashed for ripping off poorer customers

Banks lashed for ripping off poorer customers

The market watchdog has slammed four major banks for causing financial distress to more than two million Australians by systematically overcharging on fees.

Aussie 'FinFra': Magic wand for technology trailblazers

Aussie 'FinFra': Magic wand for technology trailblazers

Aussie 'FinFra': Magic wand for technology trailblazers

Aussie 'FinFra': Magic wand for technology trailblazers

Australia faces a deadline for decommissioning the decades-old payments system for handling wages, bills and welfare as the velocity of the economy increases.

Pacific banking bolstered with federal $6 million boost

Pacific banking bolstered with federal $6 million boost

Pacific banking bolstered with federal $6 million boost

Pacific banking bolstered with federal $6 million boost

Banking services in Pacific nations will be strengthened with $6.3 million from the federal government, as Australian financial services are urged to stay.

ANZ-Suncorp deal gets final stamp of approval

ANZ-Suncorp deal gets final stamp of approval

ANZ-Suncorp deal gets final stamp of approval

ANZ-Suncorp deal gets final stamp of approval

ANZ's multi-billion acquisition of Suncorp's banking arm and its 1.2 million customers will be completed within weeks.

Forum seeks fix for Pacific's sinking banking services

Forum seeks fix for Pacific's sinking banking services

Forum seeks fix for Pacific's sinking banking services

Forum seeks fix for Pacific's sinking banking services

The driving forces behind banking services cuts in the Pacific and how to prevent a mass exodus is being investigated at an inaugural forum in Brisbane.

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$1.5b data spend to simplify bank switching a 'flop'

A banking industry-backed report says just 0.3 per cent of bank customers were actively using the data-sharing arrangements made possible by costly investments.

Bendigo and Adelaide Bank names new chief executive

Chief customer officer Richard Fennell will replace veteran executive Marnie Baker as CEO and managing director of Bendigo and Adelaide Bank.

ANZ named and shamed for charging dead clients

The ANZ bank has been publicly named and shamed for charging fees to dead clients and ignoring requests for information from their representatives.

Greenlight for ANZ's takeover of Suncorp's banking arm

ANZ's multibillion-dollar deal to buy Suncorp's banking arm is full steam ahead after federal Treasurer Jim Chalmers approved the plan.

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Open door for lenders on climate risks at 11m homes

A data-rich tool will gauge the energy efficiency and climate profile of the nation's 11 million homes, with some already risky for mortgage lenders.

Westpac sanctioned over 'serious' bank closure breach

Westpac breached banking protocols when it suddenly closed an outback branch, leaving the community to rely on a local charity, an investigation has found.

Cops, banks team up to track cash feeding child abuse

A major Australian bank has teamed up with the police to stamp out child abuse material by tracking suspicious financial transactions.

Cash still king as big business bails out Armaguard

Some of Australia's biggest companies have put their money where their mouth is by stepping in to save cash carrier Armaguard in a $50 million deal.

Banks put on notice over workers' overseas remittances

Fixing a key issue in money transfers could provide Pacific nations with millions of extra dollars in remittances as Labor puts the big four banks on notice.

Stubborn economic challenges hang over RBA rates call

A June interest rate meeting comes as the federal government defends its budget management in an economy facing slow growth and persistent inflation.

Saving your brains for the good stuff, not 'grunt work'

Artificial intelligence tools can take the "grunt work" out of safeguarding vital systems against weakness and loss, according to energy companies and banks.

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