Today
CBA dumps bonus limits to fight Macquarie on mortgages
The bank will dump bonus caps agreed in the shadow of the Hayne royal commission as it tries to stem market share losses to rival Macquarie.
- James Eyers
Yesterday
Banks stare down spectre of bad debts, eye $4.5b return
Analysts say banks may declare higher dividends and share buybacks over the next fortnight’s earnings season as margin pressures ease.
- Lucas Baird and James Eyers
NSW wants fintechs to be part of the country’s largest bank contract
Westpac, ANZ and Citi are incumbents, but NSW Treasury wants innovative pitches to help solve issues, such as helping get payments to victims of domestic violence who may not have access to banks.
- Max Mason
This Month
Macquarie, ANZ and Canva CEOs help power Australia’s India push
Governments hope to prevent another false dawn in bilateral trade and investment by getting business to work on policy.
- James Eyers
‘Need a maverick’: RBNZ wants a Kiwi Macquarie
Rejecting the findings of a banking sector probe, the central bank said the industry should not reduce hurdles for smaller players but encourage “mavericks”.
- Lucas Baird
‘All banks to sell’: Citi sounds big four valuation alarm
Investors should quit owning the major banks because political campaigning against profits will force them to pass on more of the RBA’s interest rate cuts, hurting earnings.
- Updated
- Lucas Baird
- Opinion
- Chanticleer
‘Sell everything’ concept hard to put into practice for bank stocks
The big banks’ share prices have got ahead of their earnings outlook, but that doesn’t mean investors are dropping them en masse.
- Anthony Macdonald
Macquarie exits car lending to double down on mortgages
Macquarie expects 100 jobs to go as it winds down its $5 billion car lending book, following Westpac out of the sector.
- Updated
- James Eyers
Why investors should look past banks, mining for big gains
The top 10 stocks should account for more than half the ASX 200’s earnings this year, but that figure will drop below 50 per cent in FY25 as market leadership shifts.
- Alex Gluyas
- Opinion
- Australian economy
The dangers in using the wrong policy tools for the jobs
There are tangible costs and collateral damage when governments use the wrong instruments for the task at hand.
- Richard Holden
- Opinion
- Regulation
Regional banks dying a slow death
The country’s smaller banks have a bleak future due to higher cost of funds, excessive capital requirements, costly technology upgrades and lack of scale. But will regulators do anything about it?
- Tony Boyd
Borrowers agitating for better mortgage deals are saving $2000 a year
New data shows lenders are willing to slice an existing mortgage rate by 0.46 percentage points, on average, when a customer negotiates on price.
- James Eyers
Big four’s expensive shares send investors towards smaller rivals
With brokers warning the shares of CBA and its peers are too pricey, funds managers are increasingly looking to cheaper competitors like Judo Bank and MyState.
- Joanne Tran
NAB’s new chief executive shuffles leadership team, promotes rival
Rachel Slade, who was overlooked for the top job in favour of Andrew Irvine, will run the pre-eminent business banking division. Ana Marinkovic will run retail.
- James Eyers
CBA raking in extra $1.7b by paying less interest than rivals
Amid regulatory scrutiny, banking analysts are shining a light on banks’ use of deposit pricing to manage margins when official interest rates start to fall.
- James Eyers
ACCC reviewing credit data deal as Experian pounces on illion
A $820m deal that would see consumer credit data controlled by a duopoly of foreign companies is being examined by the competition regulator.
- James Eyers
CBA joins banks quietly cutting interest-free days on credit cards
The big banks have all been slowly lifting their rates, while Commonwealth and Westpac have also increased annual fees.
- James Eyers
Chalmers reassures on cash supplies after Armaguard meeting
The government wants Armaguard, together with the banks and major retailers, to deal with the challenging economics of the cash distribution industry.
- Tom McIlroy and James Eyers
Inside the battle for Armaguard and the future of cash
The high-stakes negotiations over the financial future for the cash transit monopoly reached a crescendo over Easter, and became clearer this week.
- James Eyers
- Updated
- Cash economy
Linfox lays out its terms for keeping Armaguard afloat
Peter Fox, the company’s executive chairman, says his family are “not beggars here”. He says the cash-in-transit monopoly will keep operating if fees rise.
- Updated
- James Eyers