Australia

Australian regulator revokes Citigroup’s banking license

This follows after CPL’s consumer banking business was acquired by NAB.
1 day ago

Australian regulator revokes Citigroup’s banking license

This follows after CPL’s consumer banking business was acquired by NAB.
1 day ago

Earnings challenges of Australia’s big four banks to ease: Fitch

Asset quality outcomes from the pandemic were less severe than expected.

Chart of the Week: Buy Now Pay Later gains traction in Australia

Afterpay remains king, whilst new players seek to carve out their own space.

Australian mortgage market to 'hold steady' in 2022

Economic recovery will support performance and hold delinquencies steady.

Commonwealth Bank of Australia sells 10% stake at Bank of Hangzhou for $1.3b

CBA has agreed to maintain a 5.57% shareholding in the bank until Feb 2025.

UOB prices planned A$900m floating rate notes at 0.72% per annum

Its maturity date will be five years from the date of issue.

ING appoints ex-Westpac senior director as head of real estate finance in Australia

Darren Beatty has worked for the institutional banking teams of Westpac and CBA. 

Westpac hit with protest vote against exec pay plans: report

The Australian lender faces paying up to $81m for charging fees to dead people.

Westpac warns $954m profit hit from one-off impairments

It is also hit with one-off costs from the sale of its insurance arm and specialist business.

Australia’s top banks won’t do business with crypto firms: report

Two local digital currency exchanges said that none of the top four banks would do business with them.

Australia mulls requiring banks to offer lower-cost debit payment systems: report

Federal treasurer Josh Frydenberg has written to regulators to allow businesses to choose cheaper domestic systems.

More mergers of small Australian banks imminent: analysts

Two mergers were announced in August alone, and as regulatory costs remain high, more might seek to consolidate.

Chart of the Week: Australia card payments value to rebound 8.3% in 2021

The rising use of contactless and e-commerce payments will support the growth of the segment.