Banking Day
WEB20 September 2024 6:10AM. Ian Rogers. Growing at twice system, P&N Bank has costs under control and, for now, will be putting its fail.. read more. 7am daily. News and insights on banking and finance. Free trial.
ANZ settles class action - Banking Day
WEBANZ will pay A$57.5 million as part of the settlement of a class action brought against it in 2021 over interest charges on credit cards. Acting for the representative applicant, law firm Phi Finney McDonald claimed that between 2010 and 2018 the bank charged interest retrospectively on credit card accounts that previously had an interest free period.
Bank Australia and Qudos Bank to merge - Banking Day
WEBThe fourth largest mutual bank in the country will be one outcome of the proposed merger of Bank Australia and Qudos Bank. Announced yesterday, “bringing Bank Australia and Qudos Bank together would create an entity supporting 300,000 customers” with assets exceeding A$20 billion and served by almost 900 employees, the two banks said.
Banking Day
WEBEmailing you the news at 7am. Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more. Original news and summaries of major stories from other media – ditch your newspaper subscriptions. Focused on banking and finance, saving you the time spent wading through newspapers and other services.
Beyond Bank, P&N hit merger accelerator - Banking Day
WEBThe announcement yesterday that Beyond Bank Australia and Police & Nurses Limited have signed a Memorandum of Understanding to investigate a merger of equals is another whopper in the fast consolidating world of mutual banks. This merger would create a mutual with close to $20 billion in assets, making it the fourth largest.
‘Rips your heart out’ – Volt founder opens up on bank’s demise
WEB30 June 2022 6:07AM George Lekakis. Volt Bank founder and chief executive Steve Weston says he is “gutted” for staff, customers and shareholders by the collapse in investor support for his company. The bank’s eight-member board, chaired by former HSBC Australia kingpin Graham Bradley, pulled the plug on the business at a meeting on ...
Regional Australia Bank sets profit record - Banking Day
WEBRegional Australia Bank sets profit record. Reporting an 85 per cent rise in net profit to A$32.1 million and a return on assets of 1.01 per cent over the year to June 2023, Regional Australia Bank has set a new benchmark for the mutual banking sector. Banking Day does not have all the data, but it seems fair to suggest this could be the best ...
New CEO says Judo ready for diversification - Banking Day
WEBNew CEO says Judo ready for diversification. New Judo Bank chief executive Chris Bayliss made his first public appearance in the role yesterday, announcing a couple of senior appointments and providing a broad outline of his plans for the bank’s development. The bank’s chief risk officer Frank Versace will take on the role of chief strategy ...
MyState, Auswide do the decent thing in dire times - Banking Day
WEBMyState yesterday bought forward the release of its FY2024 full-year results, which included an eight per cent fall in net profit to $35.3 million and below system growth in the mortgage book of only two per cent. Auswide released unaudited results for the full-year and they are a front-runner to be one of the worst this bank reporting season.
Westpac shuts the door on RAMS - Banking Day
WEBAug 9, 2024 — Westpac shuts the door on RAMS. 09 August 2024 12:04PM Ian Rogers. Westpac. Westpac’s RAMS brand has ceased taking applications for new home finance. Local RAMS Home Loan Centres will also soon close, RAMS informed clients earlier this week. This follows a strategic review of RAMS announced by the bank in November.