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Major bank merges consumer and business divisions

A big four bank has announced that it will combine its consumer and business divisions into one division later this month.

Major bank merges consumer and business divisions
Bank profits fell by over a third in 2020

Despite a surging mortgage market, bank profits dropped by over a third in the calendar year 2020, new APRA stats show.

Bank profits fell by over a third in 2020
MPs go head-to-head over responsible lending bill

Several MPs went head-to-head at the second reading debate in the Houses of Parliament, with members of the Opposition particularly concerned over the impact of the repeal of responsible ...

MPs go head-to-head over responsible lending bill
BOQ completes equity raise to acquire ME Bank

The non-major bank has completed the final stage of its equity raising, with the proceeds to be used to fund the acquisition of ME Bank for $1.325 billion.

BOQ completes equity raise to acquire ME Bank
Resimac cuts rates for self-employed borrowers

The non-bank lender has reduced rates by up to 88 bps and waived some of its fees across its Prime Alt Doc range of home loans, effective 15 March.

Resimac cuts rates for self-employed borrowers
LATEST PODCAST: The debate around responsible lending

The Mortgage Business Uncut podcast is your weekly analysis of the biggest themes shaping the Australian mortgages market.

LATEST PODCAST: The debate around responsible lending
Consumer groups slam Senate report on lending laws

Several consumer groups have condemned the Senate committee’s backing of the repeal of RLOs, calling it a “recipe for economic disaster”.

Consumer groups slam Senate report on lending laws
Major bank slashes fixed rates

Westpac has lowered mortgage rates across the banking group on its fixed rate owner-occupier and investment loans by up to 20 bps, effective 9 March.

Major bank slashes fixed rates
Broker market share will hit 70% in 5 years: Aussie CEO

The CEO of Aussie Home Loans, James Symond, has forecast that broker market share will hit 70 per cent in the next five years, as more consumers turn to brokers for credit advice.

Broker market share will hit 70% in 5 years: Aussie CEO
Non-bank lender commits to pay equity

Brighten Home Loans has committed to closing the gender pay gap in the financial services industry, with its managing director appointed a Pay Equity Ambassador.

Non-bank lender commits to pay equity
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