Big banks and brokers the best of frenemies 09 May 2024 12:58AM Latest news John Kavanagh Banks are looking for ways to preserve margins in their home loan businesses and one area where they are taking a harder look is their relationships with brokers. read more
Bank branch closure inquiry wraps 17 April 2024 3:16AM Latest news Ian Rogers A bank branch (mainly NAB’s) closed in regional Australia every 5 days since a Senate inquiry into bank closures in regional Australia was announced early last year. read more
Deposit mix key to banks managing rate cuts 16 April 2024 4:59AM Latest news John Kavanagh Deposits are 'key differentiators of profitability' and banks’ ability to manage their deposit mix will be important to their earnings when rates start to fall. read more
Westpac launches tech overhaul 28 March 2024 3:44AM Latest news John Kavanagh Westpac has launched an ambitious upgrade of its technology simplification program in a bid to improve customer outcomes and bring its cost-to-income ratio down to the level of its better performing b.. read more
Briefs: Westpac moves audit account, PEXA management restructure, new MoneyMe CFO 11 March 2024 3:24AM Latest news Banking Day staff Westpac has moved its audit business from PwC, its auditor of 50 years, to KPMG. read more
Strong demand for Westpac RMBS 29 January 2024 4:21AM Latest news John Kavanagh Westpac raised A$2.75 billion through an issue of residential mortgage-backed securities, WST 2024-1, upsizing the transaction from $750 million at launch and paying 105 basis points over the one-mont.. read more
Briefs: RBA appoints chief economist, Westpac expands merchant choice routing, CLSR CEO appointed 08 December 2023 4:41AM Latest news Banking Day staff Senior Treasury official Sarah Hunter will join the Reserve Bank in January as its chief economist and assistant governor (economics). read more
Westpac takes on the herd 01 December 2023 5:25AM Latest news John Kavanagh With the agricultural sector accounting for 2 per cent of Westpac’s total committed exposures but a hefty 26 per cent of its financed emissions, the bank is working with the industry to develop tools.. read more
Briefs: Scotpac moves into foreign trade services, Westpac joins Home Guarantee Scheme 24 November 2023 5:32AM Latest news Banking Day staff Business lender Scotpac has formed a partnership with foreign exchange and trade finance provider Ebury. read more
Strong demand for Westpac hybrid 23 November 2023 5:53AM Latest news John Kavanagh Westpac has completed the bookbuild for its latest issue of additional tier 1 securities, pricing the issue at a wider margin than the margins on recent issues by NAB and ANZ. read more
NAB, ANZ Worldline mull Visa plan to slash interchange fees for small retailers 16 November 2023 5:47AM Latest news George Lekakis Two of Australia’s major banks are considering whether to offer discounted interchange fees for small businesses under a special program currently being rolled out by Visa. read more
Westpac dumps PwC as auditor 09 November 2023 5:50AM Latest news Ian Rogers Westpac has commenced a tender for its external audit services, and PwC has been told it need not apply. read more
Climate targets included in Westpac CEO pay 09 November 2023 5:25AM Latest news John Kavanagh Westpac chief executive Peter King and some of his group executive team now have climate related measures included in their remuneration packages. read more
Westpac promises 'technology transformation' 07 November 2023 5:53AM Latest news John Kavanagh Westpac chief executive Peter King has outlined an ambitious technology investment program for the next couple of years, as the bank looks to move on from years focusing on risk management fixes, cust.. read more
Arrears step up at Westpac 07 November 2023 5:51AM Latest news Ian Rogers Mortgage delinquencies are on the rise and approaching the recent Covid peak of late 2021, Westpac’s full year results show. read more
Westpac results at a glance 07 November 2023 5:35AM Latest news John Kavanagh Westpac reported a net profit of $7.2 billion for the 12 months to September – an increase of 26 per cent over the previous corresponding period. But most of the gains were in the first half of the ye.. read more
Westpac buys healthcare payments specialist 03 November 2023 5:30AM Latest news John Kavanagh Westpac is moving into the health payments market, announcing that it will acquire health claims processing business HealthPoint. read more
Briefs: CBA launches Instalpay, Butn renews funding, Westpac upgrades app 02 November 2023 5:28AM Latest news Banking Day staff Commonwealth Bank has launched an interest free finance product for solar panel and battery systems. read more
Briefs: YBR shareholders back delisting, Westpac director to stand down 25 October 2023 5:41AM Latest news Banking Day staff Yellow Brick Road shareholders backed a resolution at an extraordinary general meeting yesterday to remove the company from the ASX official list. read more
Briefs: Teachers new CEO, Westpac pressed on climate disclosures, BNK appoints CFO 18 October 2023 4:55AM Latest news Former Westpac and Commonwealth Bank executive Anthony Hughes has been appointed chief executive of Teachers Mutual Bank. read more