Australia
Australian regulator grants IN1Bank a second extension on restricted ADI license
The digital bank is still aiming to get a full license by the end of the year.
Australian regulator grants IN1Bank a second extension on restricted ADI license
The digital bank is still aiming to get a full license by the end of the year.
APRA revokes Volt’s authorised deposit-taking institution licence
The bank first announced its closure in June.
Australian regulator removes Westpac add-on liquidity requirement
The removal of the add-on takes effect this 1 September.
Australia’s Judo Bank on track for earnings growth
Its net interest margin is expected to be 3% over the next two years.
ING Australia names Andrew Hector as head of wholesale banking
He previously worked for ANZ for 13 years.
Australia’s mortgage delinquency rate to rise in coming quarters
It is beset with the same issues as of its peers: inflation and interest rates.
Australia’s fintech investments down 75% in Q2
If it continues this trend, fintech investments will be down 39% in 2022.
Financial technology (companies in Australia raised $0.8b of capital during the first six months of the year, according to data gathered by Fintech Global.
Volt Bank returns deposits to customers after announced closure
The bank struggled to raise enough funds to sustain its business.
Credit card keyword searches in Australia skyrockets by 81%
Approximately 75% of keywords were related to activating a new credit card.
Suncorp sells banking business to ANZ for $3.33b
ANZ will continue to operate it as Suncorp Bank for five years.
Australian regulator revokes Citigroup’s banking license
This follows after CPL’s consumer banking business was acquired by NAB.
Monetary tightening tests Australia’s residential mortgage-backed security market
Rising interest rates will put pressure on arrears, said S&P.
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.
Return of tourism sparks further recovery of Australia's card payments market
Resumption of travel and tourism will help push card use.
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.
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