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Economy

Major bank sees cash profit soar by 23%

A big four bank has announced a cash profit of $3.4 billion for the half year ended 31 March 2017, a massive 23 per cent increase on the prior comparable period.

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One in five Aussies expect to retire with a mortgage

Older working Australians are not only more likely to enter retirement with high levels of debt, they are also under pressure to provide financial assistance to their children, a new report ...

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RBA makes cash rate call - May 2017

The Reserve Bank of Australia has announced the decision of today’s monthly board meeting.

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Conditions slow in nation’s hottest housing markets

April figures from CoreLogic show a slowdown in housing market conditions in Sydney and Melbourne, with capital city dwelling values recording their lowest month-on-month rise since 2015.

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Big four agree to scrap non-monetary covenants for SMEs

All four of the major banks have confirmed that they will be removing non-monetary default clauses on small- to medium-sized business loans worth less than $3 million, in a bid to improve ...

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RBA expected to leave rates on hold

Leading economists are confident that the Reserve Bank will leave the official cash rate unchanged at today’s board meeting.

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APRA’s ‘blunt instrument’ a win for major banks

Fresh data from the prudential regulator has revealed a resurgence in mortgage lending among the big four, who are seeing no reduction in investor mortgage volumes despite lifting their ...

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Banks announce home loan rate changes

Two Australian banks, including one of the big four, have announced pricing changes to their fixed and variable rate mortgage products.

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Tyro Payments co-founder to depart

Australian payment provider Tyro Payments has announced co-founder and head of sales Andrew Rothwell will leave the business to “pursue a new opportunity” in the fintech space.

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Brokers help drive record originations for Pepper

The non-bank lender has managed to grow its Australian mortgage originations by 36 per cent to $2.5 billion with the help of more than 2,600 brokers.

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