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Westpac chief takes $500,000 pay cut as bank slashes executive bonuses

Westpac chief takes $500,000 pay cut as bank slashes executive bonuses

Westpac CEO has seen his pay drop nearly 10 per cent after a year in which profits were flat and the bank was hauled across the coals at the royal commission.

  • by Alex Druce

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CBA books $2.5 billion quarterly cash profit as few loans go sour
Big four

CBA books $2.5 billion quarterly cash profit as few loans go sour

Commonwealth Bank unaudited cash profit was about $2.5 billion in the three months through September as charges for bad debts stayed at historic lows.

  • by Clancy Yeates
ASIC wants to be top cop on super beat
Banking royal commission

ASIC wants to be top cop on super beat

The corporate cop would take the lead in policing conduct in the $2.8 trillion superannuation sector under a proposed shake-up by the country's two top financial regulators.

  • by Clancy Yeates
How to avoid a different kind of hangover on Melbourne Cup day
Opinion
Financial planners

How to avoid a different kind of hangover on Melbourne Cup day

It’s the race that stops the nation and according to data by CBA, it brings a halt to our consumer spending.

  • by Olivia Maragna
ASX to look at fund managers' claims on AMP life insurance sale
Shares

ASX to look at fund managers' claims on AMP life insurance sale

Fund manager say AMP owes it to shareholders to have the proposed sale of it life insurance arm reviewed

  • by John Collett
Westpac expects further house price falls
Property investment

Westpac expects further house price falls

Banking giant Westpac expects further falls in Sydney and Melbourne house prices, as investors remain hesitant about putting money into the housing market.

  • by Clancy Yeates
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Westpac sticking with wealth as compo payouts hit profits
Updated
Big four

Westpac sticking with wealth as compo payouts hit profits

Westpac has defended the bank's involvement in key parts of the wealth management sector, such as by providing insurance and investment platforms.

  • by Clancy Yeates
ANZ chief gets $950k pay cut as royal commission hits execs
Pay

ANZ chief gets $950k pay cut as royal commission hits execs

ANZ Bank chief executive Shayne Elliott's pay has fallen by almost $1 million since 2017, the bank's annual report said.

  • by Clancy Yeates
Permanent ban, $9m fine for firm that targeted the desperate
Banking royal commission

Permanent ban, $9m fine for firm that targeted the desperate

Financial Circle targeted superannuation belonging to the financially vulnerable

  • by Mathew Dunckley
Devil in the detail: the worry about Westpac's results
Opinion
Big four

Devil in the detail: the worry about Westpac's results

The full year flat cash earnings result produced by Westpac belies a more worrisome trend in Australia’s second largest bank.

  • by Elizabeth Knight
CBA and Westpac profits to show soft retail banking backdrop
Big four

CBA and Westpac profits to show soft retail banking backdrop

The country's two biggest banks will this week reveal how their flagship businesses are faring as growth slows in the $1.6 trillion mortgage market.

  • by Clancy Yeates