Economy

The head of Australia’s largest bank has been forced to confront the devastating impact the group’s misconduct has had on the wellbeing of its customers.

Firstmac managing director Kim Cannon has urged the mortgage industry to recognise the role that non-banks play in the prime lending space.

On the back of recent political party debates over Australia’s housing affordability plans, Starr Partners CEO Douglas Driscoll said that Labor’s plans to limit negative gearing to new ...

On average, across Australia’s capital cities, home loan arrears are highest in suburbs within 30 and 40 kilometres of the CBD, according to Moody’s.

A non-major lender has posted a net profit increase of 11.1 per cent, despite a $254.5 million decline in loan settlements.

New data has revealed that the number of data breaches in the financial services industry has tripled since 2016.

Remediation and royal commission costs, among other expenses, are set to place added pressure on a big four bank’s bottom line.

The ratings agency has reiterated that the royal commission could deplete bank profits, but credit profiles will likely remain stable.

Major bank chiefs will appear before a parliamentary committee to answer questions on recently released royal commission findings.

The major bank’s customers will continue to have access to “over-the-counter” banking services at Australia Post following a renewal of the pair’s partnership.