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Banks’ cost-to-income ratios exploded in the March quarter, as big increases in bad debt charges and higher regulatory and IT spend weighed on modest income growth. And banking industry profit margins.. read more

The Federal Court has ordered Commonwealth Bank to pay a $5 million penalty, after it found that the bank had breached the ASIC Act and the Corporations Act over the failings of its Agri-Advantage Plu.. read more

In the post-Hayne environment, lenders have been reluctant to do deal with Collection House and it has had to make changes to its practices – leading to a whopping impairment. read more

Smartpay is the latest financial services company to shore its balance sheet with a capital raising, announcing on Friday that it had raised A$13 million via a placement. read more

ARCH missed out to QBE as NAB consolidates its LMI arrangements. QBE is a funny mob: LMI is an important part of their business but they barely talk about it or share data about it. read more

Fintech Kyckr has signed a contract with German bank Commerzbank to provide customer verification technology. It is the second contract it has signed with a big financial institution in the past month.. read more

The Federal Court has approved the settlement of a class action brought against NAB and MLC over the sale of consumer credit insurance products. read more

A new review of the institutional loan portfolios of the major banks shows NAB has the institutional loan book with the lowest quality among the big banks and faces the greatest risk of loss in this p.. read more

Suncorp has called a halt to the implementation of its new core banking system and will write off $90 million of the carrying value of its IT investment. read more

Liberty Financial has raised A$500 million through an issue of residential mortgage-backed securities, with the Australian Office of Financial Management buying $64.5 million of notes. read more