Lender

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.

The Australian presence of foreign banks grew over 2021, according to a new MinterEllison report.

The bank’s mortgage portfolio continues to grow, after having risen 8 per cent in the June quarter to $9.9 billion.

Customers refinancing to Westpac’s Flexi First Option basic home loan will be the first to access the bank’s new digital mortgage, set to roll out in the final quarter of this year.