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Economy

Low rates, ‘fierce’ competition to test mutual banks: S&P

Mutual bank margins are set to come under pressure amid record-low interest rates and “fierce” competition in the home-lending space, according to S&P.

S&P Global Ratings
MyState appoints new CFO - 2020

The Tasmanian bank has announced the appointment of a new chief financial officer.

Gary Dickson
Xinja ‘Stash’ account reaches $200m

The neobank has announced that inflows into its savings account product have hit $200 million.

Digital banking
Stronger housing market extends “wealth effect”

The strong upward trend in home-buying intentions is translating into higher motor vehicle spending intentions, according to new CBA research.

Stronger housing market extends wealth effect
Mixed RBA signals cloud rate outlook

Analysts are in two minds about the Reserve Bank’s monetary policy strategy, with recent remarks from governor Philip Lowe casting doubt over expectations for further easing.

RBA
Genworth announces board changes

The lender’s mortgage insurance provider has announced the appointment of a new non-executive member of the board, following the retirement of Gayle Tollifson after eight years of service

Genworth announces board changes
Prospa receives funding boost

The non-bank has announced the introduction of a new funding partner for one of its warehouse facilities.

Prospa receives funding boost
Non-major cuts variable mortgage rates

The bank has announced out-of-cycle reductions to its variable owner-occupied home loan offerings.

Non-major cuts variable mortgage rates
New player eyes ADI space

A new fintech has officially launched to the public with ambitions to join the “banking revolution”.

mortgagebusiness
Bendigo Bank completes $250m raising

The non-major has completed the first round of its capital raising, partly aimed at funding its home-lending strategy.

mortgagebusiness
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