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Westpac reported net profit of A$4 billion for the six months to March 2023 – an increase of 22 per cent over the previous corresponding period. The bank said the improved performance reflected growth.. read more

Macquarie Group has adopted a questionable approach to dealing with the Australian Prudential Regulation Authority’s concerns about the governance of Macquarie Bank, appointing a supposedly “bank-only.. read more

Several lenders have withdrawn or scaled back their cashback home loan offers, in a sign that the intense level of mortgage market competition is not sustainable for some. read more

Fixed home loan rates, particularly longer-term rates, came down in April, as lenders took advantage of lower benchmark rates and looked ahead to the peak in the monetary policy cycle. read more

NAB has missed the Reserve Bank’s deadline for offering the PayTo service to its customers and only 53 organisations are live with the service almost a year after it was launched. read more

High interest rates and a slowing economy have not deterred SMEs from investing in their businesses, according to new research. read more

Big banks could (but do not) dominate the household deposit market. read more

Bank of Queensland reported higher arrears in its mortgage, commercial and asset finance portfolios in the six months to February – particularly in the asset finance business. read more

Discussions are underway in the banking industry about introducing new payment fraud mitigation measures, as losses from payment scams mount, the Australian Banking Association says. read more

The board of EML Payments has sacked Emma Shand, who was appointed chief executive of the struggling company in July last year, and dumped the strategic plan Shand announced in November in favour of a.. read more