Banks
BoQ lifts dividend as profit jumps
Clancy Yeates Bank of Queensland’s earnings jump as the regional bank benefits from lower costs from impaired loans and wider profit margins on lending.
Banks join fight against super tax slug
Heath Aston The big four banks have joined a push to stop the Gillard government raising taxes on superannuation.
Branches
Bank thinks small to cut costs
Clancy Yeates NAB will aim to cut the average size of its bank branches by a quarter as part of a cost-cutting drive.
Banks
ANZ keeps mortgage rates on hold
Glenda Kwek ANZ Bank has kept its standard variable mortgage rate unchanged, following the Reserve Bank's decision on Tuesday to keep the cash rate on hold.
ANZ cuts jobs in institutional banking
ANZ Bank plans to cut about 50 jobs in institutional and international banking as lenders trim costs amid weak credit demand.
Banks
Mother of all bailout funds
Michael West Does this country have the most generous support mechanisms for banks in the world? The answer would appear to be ‘yes’.
NAB set to reshuffle executive team
The National Australia Bank is set to reshuffle its senior management team as part of a move to boost its productivity, a report says.
Westpac online banking hit by glitch
Clancy Yeates Westpac’s online and phone banking system was hit by a glitch that prevented users from accessing their accounts.
Are you being served? Subpoenas for ANZ directors
Michael West They are out of the country, still fuming at the loss of their business, and still very rich. So Pankaj and Radhika Oswal are turning up the heat in their slew of legal actions.
IAG flags rise in insurance premiums
Clancy Yeates Premiums for home and car insurance are set to rise by 5 to 10 per cent over the next 12 to 18 months, IAG says.
ANZ sends another 70 jobs offshore
Clancy Yeates ANZ will cut 70 jobs from its Australian operations and replace the staff with workers in India, as banks continue to shrink their workforces in a push to reduce costs.
BoQ launches buyback of guaranteed bonds
Clancy Yeates Bank of Queensland has become the latest lender to exploit the better conditions on funding markets, with new plans to spend up to $650m buying back taxpayer-guaranteed debt.
More rate cuts needed, economists say
Economists from two of the big banks say several more interest rate cuts are needed to support the economy in 2013 as the boom in mining investment peaks.
CommBank chief defends 'excessive' profit
Clancy Yeates CBA chief Ian Narev concedes that some people will see the bank's latest profit result as ''too much'', but maintains that funding costs are still a pressure.
Asset check
Daryl Dixon The release of the latest Treasury Tax Expenditure data has coincided with informed government leaks about further cuts in superannuation tax concessions.
Bank funding rates 'broadly unchanged': RBA
Glenda Kwek A fall in wholesale funding costs is expected to ‘‘take some time’’ to filter through to banks’ overall funding costs, the Reserve Bank says, dashing mortgage holders’ hopes of additional rate cuts.
ANZ keeps rates on hold
Glenda Kwek ANZ has kept its variable mortgage rates on hold in its first review of the year, as the RBA says funding costs for banks remain "broadly unchanged".
Flood claims exceed $570m as clean-up goes on
Peter Hannam Australia's insurers are continuing to tally the cost of this summer's floods and fires, with the insured losses now exceeding $550 million in Queensland alone.
Fixed mortgages cheapest in 23 years
Clancy Yeates Lenders have cut interest rates for the most popular type of fixed-rate mortgage to their lowest levels in more than two decades, amid bets the cash rate will fall further.
Old Aussie banknotes set to reap millions
Since their reunion in 2009, this unique family of elderly Aussies could be worth a fortune.
