Two major broker aggregators to merge
Annie Kane
AFG and Connective have announced that they are going to merge, with AFG acquiring substantially all the assets and liabilities of Connectiv...
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Bendigo reports fall in profit, rise in mortgage growth
The fifth-largest retail bank has reported above-system growth in residential lending in FY19, but a decline in total profit, primarily due to remediation and redundancy costs.
Bankwest launches new mortgage processing tool
The non-major has launched a new digital tool aimed at reducing turnaround times for home loan applications.
Mortgagors less comfortable with net wealth
There has been an overall decline in financial comfort levels in the six months to June 2019, with mortgagors particularly concerned with ne...
Federal Court issues class action notice to NAB customers
Approximately 400,000 NAB customers have been advised that they may be eligible to join a class action against the major bank for alleged mis-selling of credit insurance.
No escape from global rate trap: RBA
Reserve Bank governor Philip Lowe has conceded that “while we might wish it were otherwise”, Australia’s monetary policy trajectory is pinned to global rate trends.
Ebury expands Australian presence
The global fintech has announced the opening of its new office in Melbourne, after a period of “rapid growth” in Australia.
CBA CEO downplays stimulatory effect of floor rate cuts
Changes to APRA’s home lending guidance will likely have a “rather modest” effect on credit growth and would only support customers l...
AMP Bank eyes double-digit revenue growth
The non-major is looking to capture a larger share of the revenue pool in the banking space, after it reported a 9 per cent decline in its u...
‘Dovish’ RBA in ‘wait and see mode’
The Reserve Bank has signalled that it remains open to further cuts to the cash rate, but according to analysts, the central bank will hold off on further cuts for the time being.
