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Today
- Opinion
- Chanticleer
Why a ‘bemused’ Matt Comyn is wary of banking’s new battleground
CBA’s CEO started banging the drum on loss-making mortgages early last year. Now, the broader banking sector appears to be thinking like Comyn.
- 49 mins ago
- James Thomson
CBA profit falls; Accenture’s $40m pay risk; Best private dining rooms
Read everything that’s happened in the news so far today.
- 1 hr ago
- Updated
- Earnings season
CBA profit falls to $2.4b, ‘momentum’ improves
Commonwealth Bank’s lower margins had reduced profits over the last three months as higher interest rates saw late loan repayments rise.
- James Eyers and Lucas Baird
This Month
- Analysis
- Affordable housing
Why Australia’s housing crisis has gone global
Households are going backwards in 13 developed economies, including Australia, as record immigration runs into a housing crisis.
- Updated
- Randy Thanthong-Knight, Swati Pandey and Tom Rees
- Exclusive
- Privacy
CBA beats government to start-up opportunity from data breach scandals
Commonwealth Bank has a new app launching on Tuesday to warn citizens when their identity documents are in the wrong hands.
- Paul Smith
CommBank to refi PE-backed logistics giant; Daimler, IFM tip into debt
The new loan comes four years after Allegro Funds, led by deal maker Adrian Loader, paid less than $10 million to acquire Team Global Express.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
Big banks hand out the treats to keep investors sweet
The banks have a few lollies for shareholders. NAB’s was capital management, Westpac is likely to follow suit.
- Anthony Macdonald
Cash splash as Boomers hit the jackpot
After decades of saving, older Australians are spending up. But the wave of cash is causing headaches for the inflation-fighting treasurer and RBA. Can the good times last?
- Jacob Greber
Macquarie goes after big four’s business lending lunch
The investment bank’s share of small business lending is only 1.7 per cent, but its $15.8 billion book grew by 22 per cent for the year and Macquarie wants more.
- Updated
- James Eyers and Lucas Baird
April
- Exclusive
- Big four
Westpac’s Yetton targets ‘right returns’ over mortgage wars
The consumer bank chief also also promises to extend a moratorium on regional branch closures until 2027.
- Lucas Baird and James Eyers
ASIC chairman ‘very disturbed’ about CBA’s bonus move
Joe Longo said he had raised concerns about CBA’s breach of bonus caps directly with the bank’s chairman Paul O’Malley and urged the bank to reconsider.
- James Eyers and Lucas Baird
Zip Co’s turnaround story lands the BNPL on takeover watchlists
No doubt CBA’s internal M&A team adheres by its mandate of looking at all options to maximise shareholder value.
- Sarah Thompson, Kanika Sood and Emma Rapaport
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
Henri Aram: the 101-year-old market gadfly
A reforming pioneer in the investment advice industry, Henri Aram was also outspoken about the operation of finance markets and the behaviour of big corporates.
- Andrew Clark
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
- Opinion
- Chanticleer
How to adjust your ASX portfolio for a higher-for-longer world
Hot inflation and the prospect that rate cuts will be further delayed should encourage investors to rotate from banks towards miners, Morgan Stanley says.
- James Thomson
‘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
Matt Comyn’s right-hand man pops up at Adara
Ex-Commonwealth Bank executive David Cohen is set to join the prestigious advisory group, bringing its membership to 16.
- Sarah Thompson, Kanika Sood and Emma Rapaport
‘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
