Call to make reverse mortgages compulsory for wealthier retirees 19 February 2015 4:40PM Australians with wealth over a given threshold should be required to make a contribution to their aged care costs by taking out a loan against their property, according to a report on policy options f.. read more
Macquarie targets full-service banking with investment in a core banking system 18 February 2015 5:15PM Macquarie Group surprised the market yesterday with the news that it was in the second year of a five-year program to build a core banking system. The A$250 million project will give Macquarie the tec.. read more
Macquarie expands lending activities in its markets business 18 February 2015 5:14PM Macquarie Group is increasing the amount of lending it does in its commodities and financial markets business. read more
Macquarie mortgage business to 'normalise' 18 February 2015 5:14PM Macquarie Group expects its runaway mortgage business to "normalise" over the next couple of years, as its growth rate moderates and it starts to produce a higher return on equity. read more
Genworth loses Westpac's business 18 February 2015 5:08PM Mortgage insurer Genworth Australia announced yesterday that Westpac had given notice that it was terminating its agreement with Genworth for the provision of lenders mortgage insurance. read more
Homeloans acquires Barnes Home Loans 18 February 2015 5:06PM Specialist mortgage lender Homeloans Ltd has acquired a Brisbane mortgage manager, Barnes Mortgage Management. The deal will add about A$500 million to Homeloans' loan book. read more
Chronican quits ANZ 17 February 2015 4:50PM The chief executive of ANZ's Australian operations, Phil Chronican, has resigned after five years with the bank. read more
Personal lending growing strongly in the payday lending market 17 February 2015 4:45PM Banks' personal loan and credit card portfolios have barely grown over the past six months - but in the payday lending sector it is a different story. read more
FSB to step up monitoring of implementation of post-crisis reforms 17 February 2015 4:44PM The Financial Stability Board will turn its attention to monitoring the implementation of post-financial crisis reforms and will, for the first time, publish a report on the implementation of reforms.. read more
UK acquisition 'transformational' for emerchants 16 February 2015 4:42PM Prepaid card supplier emerchants has been through what it describes as a "transformational period" during the December half-year - the result of its purchase of a UK card company and the launch of new.. read more