Australia

Australian fintech firms raise over $2.7b from 2015-2019

Deals over $100m comprised 41.9% of capital raised.

Australian banks asset quality still strong despite surging mortgage arrears

Capital ratios of major banks rose ahead of higher capital requirements by 1 January.

Westpac chairman, CEO to step down amidst money laundering probe

The bank is the third of Australia’s major banks to lose executives after scandals for the past year.

Australia's Westpac hit with up to $328t fine for money laundering

The bank is accused of enabling payments from child sex offenders.

Australian banks' earnings to remain under pressure in FY2020

No thanks to growing customer remediation costs.

Australian banks may issue euro bonds to meet capital requirements

They will need to raise $34.32-41.87b worth of Tier-2 capital by 2024.

Can Australian banks meet heavier capital requirements?

The regulator is proposing an aggregate-level risk-weight floor based on internal ratings-based approach.

Open banking could uplift Australian banks

The big four banks will be required to make data available for transactions by February 2020.

Chart of the Week: What annoys APAC bank users the most?

Frozen credit cards no longer spark as much annoyance.

Australian banks cut term deposit rates amidst cheaper funding

About 130 interest rate cuts were recorded in individual term deposit products in March.

Australian banks blame tighter credit checks for home loan decline

Applications dwindled despite unchanged loan success rate.

Australian banks slammed over repayment delays

Customers had to pay for services they did not receive.