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As Australian banks rush headlong to close branches and take their businesses online, new research shows that the digitisation of banking is a doubled edged sword. read more

AMP Bank contributed close to half the AMP group’s underlying earnings of $356 million, and the group is maintaining an ambitious investment agenda for the bank.   read more

Commonwealth Bank reported net profit of A$4.7 billion for the six months to December – an increase of 26 per cent over the previous corresponding period. On a cash basis, profit rose 23 per cent to $.. read more

MoneyMe shareholders have approved an issue of share to SocietyOne shareholders as consideration for acquisition of their business, giving the green light to the merger of the two consumer finance com.. read more

Financial Counselling Australia has called out what it says is “another alarming example of a fintech taking advantage of loopholes in credit laws” to offer a rental payment service with high fees. read more

The increased use of information technology and data analysis in the business lending market makes it cheaper and easier for banks and other lenders to analyse information about business collateral, m.. read more

Activity in the purchased debt ledger market remains subdued, thanks to ongoing impact of COVID stimulus measures and weak consumer demand for unsecured credit, debt buyer Credit Corp reported in its.. read more

Deposit takers raised 70 term deposit rates and cut 24 in January, according to the latest Mozo Banking Roundup. read more

Further changes to Australian’s insolvency system are under consideration, including a proposal to reduce the bankruptcy period. read more

Home buyers took out the largest loans ever in December, according to the Australian Bureau of Statistics, when they borrowed an average of $602,035 – up $6000 from November. read more