Australia's biggest banks appear to be chasing new home loan business by cutting their fixed rate products, rather than supporting existing customers with variable rate mortgages.
Westpac has had a 62 per cent dive in full-year cash earnings, largely from the effects of COVID-19 and its $1.3 billion penalty for breaches of money laundering and terror financing laws.
Australia’s superannuation industry and its 16 million members watched markets fall and braced for impact as 2020 delivered an unprecedented financial stress test.
The total amount of funds managed by the Government Employees Superannuation Board fell by $200 million in the past financial year as a result of the COVID-19 downturn.
Australia's second largest bank, Westpac, believes the $900 million it has set aside for an eventual settlement with financial regulator AUSTRAC over breached anti-money laundering laws is adequate.
Stockbroking firm Argonaut has announced two high-profile recruits, while Canaccord Genuity has also bolstered its Perth team. Both firms have recruited new people from Hartleys,
The company formerly known as HotCopper has reported a big increase in its investments in clients’ shares, with revaluation gains leading to a modest annual profit.
Shares in insurer QBE have fallen by more than 5 per cent after its group chief executive departed following an investigation into workplace communications.
The Agency Group Australia has increased its revenue by 48 per cent to $41.9 million and recorded strong growth, despite being impacted by the COVID-19 downturn.
As the chief investment officer at Andrew Forrest’s private company, 34-year-old John Hartman oversees a very large, extraordinarily diverse and fast-growing portfolio.
Mortgage lender Australian Finance Group has posted an underlying profit of $36.3 million for the full financial year on the back of rising residential settlements.
A local IP lawyer has revealed the new logo and branding for Bankwest ahead of the official launch of the new look, which we’re told is designed for the digital age.
Creating flight corridors with COVID-safe countries and attracting financial services to Perth from Hong Kong are on the agenda for COVID recovery chair Nev Power.
Investors believe National Australia Bank's seven per cent drop in third quarter cash profit was not as bad as feared, and have raised the bank's share price.
Commonwealth Bank of Australia boss Matt Comyn says the lender entered the coronavirus pandemic in a very strong position but has been impacted nonetheless.
