Australia
Westpac capital position to remain strong following A$3.5b buyback
Westpac is one of Australia’s four major lenders.
Westpac capital position to remain strong following A$3.5b buyback
Westpac is one of Australia’s four major lenders.
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.
NAB buys Citi’s Australian consumer business for $882m
Citi Australia’s senior management and about 800 employees are expected to join NAB.
BNPL continues to gain traction with Square’s $29b acquisition of Afterpay
Afterpay accounts for 7.7% of Australia’s e-commerce market.
MUFG Bank inks MOU with Western Australia on renewables
The agreement also cover the sectors of energy, agribusiness, education, tourism and manufacturing.
Low costs buoys Australian banks’ profits, but pressures to persist
Operating profit is 46% higher than last year, but pre-impairment earnings remain subdued.
Australia’s Big Four asset quality deterioration ‘manageable’: Fitch
The country’s improving economic performance reduces downside risks.
Clear skies ahead for Aussie banks as economy improves
Banks can withstand NPL growth due to loan loss reserves.
Clear skies ahead for Aussie banks as economy improves
Banks can withstand NPL growth due to loan loss reserves.
Australia's grocers urged to invest in online segment fast
Many grocers who did not take the plunge before the pandemic lost market share.
Grill'd, streaming service BINGE, team up for lamb brain burger
The companies celebrated the return of The Walking Dead’s tenth season.
Chart of the Week: Growth of local e-commerce drives rise of e-payments in Australia
Buy now, pay later solutions are popular amongst Millennials.
Australia's Bank of Queensland to acquire ME Bank for A$1.3b
This ramps up BoQ’s competitiveness via increase geographic diversity and scale of operations.
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