Australia's banking regulator wants to further lift banks' capital requirements in order to strengthen the financial system's ability to cope with shocks.
Westpac has reported a flat full-year profit of $8.07 billion after customer compensation and legal costs contributed to a weak second half at its consumer and wealth divisions.
SPECIAL REPORT: A new, more aggressive fund and the international expansion of its existing conservative strategy will be key to the growth of boutique investment manager NWQ.
SPECIAL REPORT: A diverse group of successful wealth management businesses in Perth have good stories to tell in a market likely to face increasing uncertainty.
Macquarie Group has lifted first-half profit 5.0 per cent to $1.31 billion, helped by increased mortgage lending and its involvement in the NSW government's part privatisation of WestConnex.
NAB's full-year profit has dropped 14.2 per cent to $5.7 billion after the lender booked more than $1.1 billion in restructuring costs and customer remediation.
ANZ has announced its full-year cash profit has dropped 5 per cent to $6.5 billion, as the bank simplifies operations and prepares for customer remediation in the wake of the royal commission.
Commonwealth Bank will sell its asset management arm to Mitsubishi UFJ Financial Group for $2.9 billion in a surprise sale, the latest business to be sold by an Australian financial giant amid unprecedented regulatory scrutiny.
Shares in AMP tumbled nearly 20 per cent after the under-fire wealth manager announced plans to sell its Australian and New Zealand wealth protection and mature businesses to London-based Resolution Life for $3.3 billion.
AtlasTrend is a fintech investing platform, which opens up access to active managed investing. Users can invest online in one or more managed funds made up of a portfolio of international shares.
Litigation funder IMF Bentham has announced plans to raise up to $84.5 million to establish two new funds and pursue growth opportunities in Europe and Asia.
The corporate watchdog has banned a Perth woman from providing financial services, months after she was jailed for six years for stealing more than $1 million from a local building company.
Commonwealth Bank chief executive Matt Comyn has spoken face-to-face with customers affected by the kind of misconduct revealed at the banking royal commission.
New data from Moody’s shows Perth mortgage delinquency rates are the highest in Australia, despite the capital city also holding one of the highest average incomes in the country.
Commonwealth Bank and its wealth management arm Colonial First State have been hit by a class action law suit over allegedly uncompetitive superannuation returns.
Tighter lending conditions likely after the banking royal commission will be a hurdle for business brokers who are seeing a slow improvement in their market.
SPECIAL REPORT: WA companies participated in 175 corporate finance transactions worth $7.6 billion in the September quarter, with one of the most complex and innovative being the recapitalisation of Eastern Goldfields.
PCF Capital founder Liam Twigger has revealed plans to raise up to $350 million for a cryptocurrency token that will back a new investment fund for gold mining juniors, in what would be the most significant Australian blockchain-related deal to date.
Despite the damning testimony at the finance royal commission, the banks are likely to emerge largely unscathed; the same will not be true for aged care providers.
Treasurer Josh Frydenberg has demanded the banks and regulators fix an insidious culture of greed over honesty outlined in a scathing interim report of the Financial Services Royal Commission.
HBF has flagged the possible sale and lease-back of its head office building in central Perth after reporting a lift in its financial performance and a major shift in its east coast growth strategy.
Australia's big banks and financial institutions are taking years to realise they have broken the law and too long to fix problems that have left 5 million consumers out of pocket by $500 million.
Private investment group Sirona Capital has been split in two, with founding director Kelvin Flynn establishing a new business named Harvis with a focus on real estate, agriculture and infrastructure financing.
