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ME Bank put the brakes on its business activity during the 2019/20 financial year, staying out of what its acting CEO described as a “hypercompetitive and unsustainable” market for loans and deposits. read more

Access to the government’s Coronavirus SME Guarantee Scheme has been extremely limited, with only around $1.7 billion of loan commitments under the scheme – less than 5 per cent of the scheme cap. read more

IMB Bank has reported a significant fall in profit, due in part to additional loan loss provisioning, and has warned investors to expect more of the same in the current financial year. read more

Heartland Group has completed a reverse mortgage-backed loan securitisation, claiming it is the first of its kind in the local market. read more

Card payment surcharging rules introduced several years ago have had the effect of reducing the cost of surcharges. But because consumers are using payments cards for more low-value transactions, surc.. read more

HSBC Bank Australia has raised A$1 billion of funding, following the completion last week of an issue of residential mortgage-backed securities, Lion Series 2020-1 Trust. read more

Volatile conditions continued in the mortgage market in July, with a big jump in the value of new loan commitments. read more

APRA has made further regulatory adjustments to the capital treatment of loans to customers affected by COVID-19. read more

Consumer finance company Wisr aims to build on its “financial wellness ecosystem” with the appointment of Ben Berger, former head of product at online retailer The Iconic, to the newly created role of.. read more

Law firm Herbert Smith Freehills has warned banks and other lenders that they face “a tsunami of complaints” as they work through options with their customers in the wake of deferral and other relief.. read more