Australia

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. 

The bank struggled to raise enough funds to sustain its business.

Approximately 75% of keywords were related to activating a new credit card.

ANZ will continue to operate it as Suncorp Bank for five years.

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

Rising interest rates will put pressure on arrears, said S&P.

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

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

Resumption of travel and tourism will help push card use.

Economic recovery will support performance and hold delinquencies steady.

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

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

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

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

And UBS Switzerland to propose a new board chairman.

Westpac is one of Australia’s four major lenders.