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Latest news: Banking

Union hopes for reset with incoming NAB chief executive

Union hopes for reset with incoming NAB chief executive

National Australia Bank has announced that Andrew Irvine will replace Ross McEwan as its chief executive, effective in April.

Westpac to pay millions after 'unconscionable conduct'

Westpac to pay millions after 'unconscionable conduct'

Westpac to pay millions after 'unconscionable conduct'

Westpac to pay millions after 'unconscionable conduct'

After being taken to court by the corporate watchdog, Westpac has been penalised for engaging in in unconscionable conduct in 2016.

ME Bank fined $820k for misleading home loan customers

ME Bank fined $820k for misleading home loan customers

ME Bank fined $820k for misleading home loan customers

ME Bank fined $820k for misleading home loan customers

ME Bank has admitted sending incorrect letters to hundreds of home loan customers because of a technical software issue.

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Draft laws usher in compulsory climate risk disclosure

Draft laws usher in compulsory climate risk disclosure

Draft laws for mandatory reporting of climate-related risks have been released by Treasurer Jim Chalmers.

Clowning around: climate activists disrupt ANZ meeting

Clowning around: climate activists disrupt ANZ meeting

ANZ chief executive Shayne Elliott has told shareholders that the bank's climate commitments are considered by its top executives on a daily basis.

NAB chair defends bank's climate pledges at fiery talks

NAB chair defends bank's climate pledges at fiery talks

Shareholders have grilled NAB's chairman over the banking giant's commitment to climate change at a heated annual general meeting.

Tiwi Islanders call on NAB to stop investing in Santos

Tiwi Islanders call on NAB to stop investing in Santos

Tiwi Islanders want National Australia Bank to stop funding gas company Santos, which is trying to build the Barossa project off the NT coast.

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Shareholders slug Bank of Queensland with first strike

Shareholders slug Bank of Queensland with first strike

Shareholders slug Bank of Queensland with first strike

Shareholders slug Bank of Queensland with first strike

Bank of Queensland is the latest Australian company to suffer a first strike to its remuneration report after a year of falling profits and regulatory strife.

Customers unable to reach accounts in Westpac outage

Customers unable to reach accounts in Westpac outage

Customers unable to reach accounts in Westpac outage

Customers unable to reach accounts in Westpac outage

Some Westpac customers have been unable to reach their accounts after an apparent online outage, as the bank says it is working to rectify the issue.

Indigenous people record high rates of financial stress

Indigenous people record high rates of financial stress

Indigenous people record high rates of financial stress

Indigenous people record high rates of financial stress

Financial complaints from First Nations people have soared by 13 per cent in a year and the rates of hardship experienced are causing a significant concern.

Banking 'bullies' leave vulnerable people open to scams

Banking 'bullies' leave vulnerable people open to scams

Banking 'bullies' leave vulnerable people open to scams

Banking 'bullies' leave vulnerable people open to scams

Post offices are increasingly filling the void when rural banks shut down, but they're not always paid for their services, a Senate inquiry has been told.

Customer-owned bank unveils new name: People First Bank

Customer-owned bank unveils new name: People First Bank

Customer-owned bank unveils new name: People First Bank

Customer-owned bank unveils new name: People First Bank

The bank formed by the March merger between Heritage Bank and People's Choice Credit Union will rebrand under a single name.

Court greenlights $110m deal over AMP 'misconduct'

Court greenlights $110m deal over AMP 'misconduct'

Court greenlights $110m deal over AMP 'misconduct'

Court greenlights $110m deal over AMP 'misconduct'

A court has signed off on a $110 million class action settlement supported by shareholders stung by financial giant AMP charging people fees for no service.

CBA posts $2.5b in 1Q24 profit as arrears stay low

CBA posts $2.5b in 1Q24 profit as arrears stay low

CBA posts $2.5b in 1Q24 profit as arrears stay low

CBA posts $2.5b in 1Q24 profit as arrears stay low

Australia's biggest bank says there was just a modest increase in late payments in the September quarter, despite the impact of higher interest rates.

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ANZ joins this banking season's $7b earnings club

Environmental groups are calling out ANZ's climate commitments while analysts said $7.4 billion in profit was a slight miss to consensus estimates.

AI bots won't replace human teams, security expert says

A tech giant is trying to stay a step ahead of hackers and spies with heightened security wrapping around the code that runs gadgets, services and industries.

Shareholder takes ANZ to court over climate risks

An ANZ shareholder will take the bank to court over concerns about its climate change and biodiversity loss risk management.

NAB customers cut spending, interest rate peak in sight

National Australia Bank has been looking at how its business and personal customers are dealing with rising interest rates, and the news isn't too bad.

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NAB biggest emitters will need climate transition plans

Big NAB customers in the fossil fuel sector seeking new or renewed corporate finance from October 2025 will need to have a climate transition plan in place.

Tech hub coins 'second brain' as world depends on code

Programmers need a "second brain" to write code faster to keep up with consumer demands in an economy that's dependent on software for most everyday activities.

Menacing messages to be targeted by AI banking tool

Artificial intelligence will be used to identify and flag threatening messages sent to victims' bank accounts, in a tool to be shared with banks worldwide.

Westpac posts $7b profit, launches $1.5b share buyback

Westpac has posted a 26 per cent rise in net profit of $7.2 billion for 2022/23 and released a climate report which will affect lending to farmers.

Investors demand details in sector plans for transition

Australia needs investment-grade climate policy to guide the nation's top industries through a critical phase of decarbonisation, investors say.

Crypto projects still building through bear market

The Australian co-founder of decentralised finance project Maple Finance says that crypto has been rebounding after several high-profile collapses last year.

Plan to step up climate investment in vital regions

Super funds and other climate investors have released a plan to help bankroll new industries so workers facing job losses do not shoulder the burden alone.

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