Australia
AusPayNet welcomes Aussie gov’t retirement of cheques by 2029
AusPayNet welcomes Aussie gov’t retirement of cheques by 2029
Cheques will cease being accepted by financial institutions by 2029
Commonwealth Bank divests wealth unit to LGT, 40 staff move
It is expected to close by mid-2025.
Bank Australia eyes growth with AUB buy
Currently, AUL is expected to continue supporting AUB until the transfer is complete.
Australian banks' credit risk rises amidst high debt, economic uncertainty
National Australia Bank reported an 8.1% decline in cash earnings.
Westpac expected to maintain solid capital despite profit drop
Credit risk is expected to remain low.
Australian mortgage arrears rise to highest in 10 years
Borrowers may have been affected by inflation and interest rate hikes.
RAB, Summerland merger will enhance their business stability: S&P
Their risk-adjusted capital ratio should remain above 15%.
APRA revokes two banking licences
At the time of revocation, the bank had not launched any products.
Little clear interest in a retail CBDC in Australia: central bank
Regulators are keen to pursue wholesale CBDCs.
Australia’s AT1 phase out proposal unlikely to be replicated by other regulators
It will wipe out the concentration of AT1 instruments held by domestic retail investors.
Australia’s P&N, Beyond Bank likely to seek other merger opportunities
S&P foresees further consolidation in Australia’s mutual banking sector.
Australia’s P&N Bank scraps proposed merger with Beyond Bank
The merged entity would have been worth about $23.8b.
Australia’s planned AT1 phase out to have little impact on banks
If pushed through, the CET1 minimum requirement will rise to 10.50%.
Westpac names Anthony Miller as CEO
Before joining Westpac, Miller was the Australia/NZ CEO of Deutsche Bank for 4 years.
Citi nabs BofA, ex-Goldman Sachs’ bankers to boost ANZ markets business
The new senior hires also come from Perennial Partners and MST Financial.
Aussie mutual lenders may consolidate to fewer than 10: analyst
Up to 40 mutual lenders may consolidate and potentially disappear, said S&P analyst Lisa Barrett.
CBA to retain capital levels despite buyback, high dividend payout
Cash net profit after tax declined 2% in the latest financial year.
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1. UOB reports flat net profit growth in Q1 despite record fee income 2. J.P. Morgan unveils automated cross-currency payment collection and settling service 3. Sea rebrands digital finance business SeaMoney to Monee 4. Barclays integrates Ant Int’l model to FX hedging platform 5. DBS’ net profit fell 2% to S$2.9b in Q1 2025 on higher tax expenses.Resource Center
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