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Latest news: Banking

Pacific expresses interest in Cook Islands' super deal

Pacific expresses interest in Cook Islands' super deal

A deal will allow Cook Islanders permanently migrating home from Australia to take their nest egg with them, plugging a gap in a pact with New Zealand.

Australian finance to spark Indo-Pacific climate action

Australian finance to spark Indo-Pacific climate action

Australian finance to spark Indo-Pacific climate action

Australian finance to spark Indo-Pacific climate action

Cheap finance for climate projects is on offer from Australia for small businesses across the Pacific, Southeast Asia and South Asia.

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific finance needs top $2b as storms hit, seas rise

Pacific Island nations need climate finance to top $2 billion every year in addition to existing official aid, experts warn the international climate summit.

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Australia aims to bolster Pacific banking, labour visa

Australia aims to bolster Pacific banking, labour visa

The federal government is working on a solution to ensure a major bank maintains services in the Pacific while bolstering the integrity of financial systems.

ANZ profit falls as mortgage wars hit big four banks

ANZ profit falls as mortgage wars hit big four banks

The ANZ bank has joined the rest of the big four in recording a fall in annual profit, as a result of ongoing mortgage competition and high inflation.

Climate investors told to press ahead despite Trump

Climate investors told to press ahead despite Trump

A leading economist has urged Australia to line up with countries that support climate action, arguing a Trump administration is likely to sideline US efforts.

Westpac's profit dips to $7b as mortgage stress eases

Westpac's profit dips to $7b as mortgage stress eases

Westpac has posted an annual profit of $7 billion and lifted its final dividend, in Peter King's last financial result as chief executive.

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Home loans boost Macquarie as profit disappoints

Home loans boost Macquarie as profit disappoints

Home loans boost Macquarie as profit disappoints

Home loans boost Macquarie as profit disappoints

Weaker commodities and markets revenues have hurt profits at financial services group Macquarie but its growing mortgage book has paid dividends.

AI becomes playmaker in push for security cooperation

AI becomes playmaker in push for security cooperation

AI becomes playmaker in push for security cooperation

AI becomes playmaker in push for security cooperation

As vulnerability grows with the onset of AI, a tech leader calls for cyber security to become a team sport not a trade secret for governments and companies.

World fair for coders celebrates 'nerditude' of AI era

World fair for coders celebrates 'nerditude' of AI era

World fair for coders celebrates 'nerditude' of AI era

World fair for coders celebrates 'nerditude' of AI era

The next phase of generative AI has begun, according to the world's leading open source developer platform, with new tools launched to craft apps out of ideas.

Banks at odds over easing lending restrictions

Banks at odds over easing lending restrictions

Banks at odds over easing lending restrictions

Banks at odds over easing lending restrictions

Easing lending requirements so more first homebuyers can get a mortgage has received mixed reviews, with warnings more borrowers would face crippling debt.

CBA reverses duplicate transactions, vows fee refunds

CBA reverses duplicate transactions, vows fee refunds

CBA reverses duplicate transactions, vows fee refunds

CBA reverses duplicate transactions, vows fee refunds

The Commonwealth Bank has fixed a problem that caused repeated transactions for some customers as it promises to refund any fees.

It's not you: banking outages are taking longer to fix

It's not you: banking outages are taking longer to fix

It's not you: banking outages are taking longer to fix

It's not you: banking outages are taking longer to fix

Digital payment services are under increasing pressure as Aussies ditch cash and they are mostly rising to the task, a Reserve Bank report has found.

CBA apologises, pays $7.5m fine after spam emails

CBA apologises, pays $7.5m fine after spam emails

CBA apologises, pays $7.5m fine after spam emails

CBA apologises, pays $7.5m fine after spam emails

Commonwealth Bank has been penalised after sending 170 million emails to customers with no way to unsubscribe.

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Financial regulations are 'punishing' first homebuyers

Overbearing financial requirements placed are worsening housing equity by making it harder for first homebuyers to access mortgages and benefiting investors.

CBA chair says ethical principles will govern AI use

Commonwealth Bank has the "best, most capable people" working on the use of artificial intelligence in its business, chairman Paul O'Malley says.

'Climate action pays': call to rev up clean investment

There can be winners in the clean energy race, a group of super funds says, rolling out a campaign to quell community fears and accelerate development.

Debit card surcharges could be scrapped in crackdown

Surcharges on debit card purchases could become a thing of the past by 2026, but some groups are warning the fees could be imposed in other ways.

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Win for banks over fugitive's 'audacious' $500m fraud

Westpac and two other banks can recoup funds taken through a $500 million fraud perpetrated by a fugitive former football club owner and his associates.

'Fragile' fraudster tries to delay inevitable jail-time

Three people caught trying to cheat National Australia Bank out of $21 million want to stay out of jail for a few more months ahead of their sentencing.

Labor, expert lash 'crazy' call to step in over rates

Calls for Canberra to intervene with the Reserve Bank to lower interest rates to get financial reforms over the line have been rejected by Labor.

Trio convicted of $21m fraud plot against NAB

Three people, including a former NAB branch senior associate, have been convicted of a multimillion dollar fraud scheme against the bank.

Battle of Kim and Goliath as bank closes amid loophole

A NSW town will lose its ANZ branch because it isn't considered regional, just months after the bank committed to keep country locations open for three years.

Emerging markets could miss out on AI wins: World Bank

Artificial intelligence may not necessarily make the fight against inequality any easier, the World Bank president has said during an Australian visit.

New fear unlocked: unemployment worries grip consumers

Consumers are becoming more concerned about the sluggish economy and what this could mean for jobs, with cost-of-living becoming a lower order worry.

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