112

NPP Australia has set December as the deadline for participating financial institutions to start receiving NPP messages with additional defined data elements for these specific payment types. read more

Westpac has set up a “specialist businesses division” to take management responsibility for a number of low-return businesses out of its core banking areas. read more

Westpac reported a net profit of A$1.19 billion for the six months to March – 62 per cent down on the previous corresponding period. On a cash basis, profit fell 70 per cent to $993 million. read more

Westpac has unearthed more transaction reporting failures, disclosing in yesterday’s March- half financial report that as many as 90,000 threshold transaction reports have not been reported to Austrac read more

The Australian Securities and Investments Commission has cautioned lenders not to make too many assumptions about how quickly consumers’ income will recover post-pandemic when making loan application.. read more

Commonwealth Bank has sold part of its CommSec business but says the CommSec retail broking business remains core to its strategy and will be retained. read more

Credit Corp has gone to the market to raise up to A$150 million of new capital, which it will use to increase liquidity and reduce net debt. read more

Westpac will book an impairment charge of A$2.2 billion when it releases its half-year financial report next Monday. The charge includes $1.6 billion of forward-looking adjustments related to COVID-19.. read more

Macroprudential policy introduced in 2017 to put a cap on the amount of interest-only mortgage lending had the effect of lessening competition and led to “synchronised” rate increases, the ACCC has fo.. read more

NAB reported a net profit of A$1.3 billion for the six months to Mach – 51.3 per cent down on the previous corresponding period. Cash profit was $1.4 billion, which was down 51.4 per cent. read more