A sharp rise in interest rates would put bank debt levels in the danger zone and could risk the stability of lenders, the latest PwC banking survey has found.
ANZ has increased its profits by $444 million on the back of strong growth in its loan book.
State Custodians is now a wholly-owned subsidiary of Resimac after the non-bank lender yesterday announced the acquisition of the company’s remaining shares.
Virgin Money (Australia) Pty Limited has paid $30,600 in penalties after ASIC issued three infringement notices for misleading online and television advertising.
Business banking has been flagged as a potential growth area in Australian lending as the major banks neglect SMEs to focus on growing their mortgage books.
Insurance books are attracting higher multiples than financial planning client books or loan books as brokers and advisers converge via acquisition.
Barclays insists the bank must pay more to prevent staff being poached by competitors despite a revolt by the bank’s largest shareholders against bigger bonuses.
AFG has defended its operational independence by declaring that shareholder Macquarie Bank has no sway in the aggregator’s business.
ASIC has cancelled Banksia Mortgages Limited's Australian financial services (AFS) licence.
As the UK economy continues to gain strength, Standard Life Investments has warned the central bank against relying too heavily on the macroprudential channel.