Economy

The non-major bank has reported a 9 per cent fall in its underlying net profit, despite above system home lending growth.

Industry experts have criticised Commissioner Hayne’s recommendations for brokers, suggesting they would damage competition in the lending space and diminish consumer benefits.

The federal opposition has released its response to the final report of the banking royal commission, agreeing to 75 of the 76 recommendations, but not agreeing to a consumer-pays broker ...

The Australian Labor Party has expressed its commitment to “clean up” the banking system, including through the introduction of three bills.

A bill designed to enshrine whistleblower protections for the reporting of misconduct in the corporate, financial, and credit sectors has passed both houses of parliament.  

Home loan delinquencies have increased nationwide, with mortgages more than 90 days in arrears rising to a record high, according to new data from Standard & Poor’s.

Bendigo Bank has partnered with Swinburne University of Technology to open a new Community Bank and use its profits to “enhance” educational opportunities and community development.

The property industry’s united opposition to Labor’s housing policy has been voiced in Canberra, while proponents of the housing reforms renew their push for the changes.

The decline in home values across Sydney and Melbourne has been “large by historical standards” and unreflective of a low mortgage rate environment, the RBA has said.

The banking royal commission has not spurred a deterioration in satisfaction among customers of Australian banks operating in New Zealand, according to new research.