Lender

Commonwealth Bank of Australia has reported home lending grew by 7.4 per cent over the financial year 2022, but slowed in the latter half amid rate rises. 

The aggregation group has committed to planting one tree for every new home loan funded by its lending arm.

The Reserve Bank of Australia has launched a new research project to investigate use cases for a central bank digital currency and its possible economic benefits.

The bank has released its June quarter results, reporting a lending and deposit boost in the wake of its deal with the lender.

The non-bank group has announced it will sell its insurance business, Hallmark, which would inject $20 million into its core business.

The Finance Sector Union is calling on government to intervene in the bank branch “crisis”, after the big four move to close another 37 branches.

Lenders have begun to respond to August’s 50-bp lift, with all of the big four banks passing on the full rate.

The major bank has confirmed that it has concluded its sale of Westpac Life Insurance Services to TAL Dai-ichi Life Australia.

A new, low-interest-rate concessional loan is set to be rolled out by the ACT state government to help apartment building owners remove and replace combustible cladding.

Rising cost of funds are impacting both banks and non-banks at the moment, but should ease from next year, the non-bank lender’s treasurer has noted.