Lender

Dec 2 2019

The embattled major bank has recorded a multibillion-dollar contraction in its home lending portfolio, with volumes falling via both its owner-occupied and investor segments.

Dec 2 2019

The major bank has continued to reshuffle its executive team in the aftermath of revelations that it contravened anti-money laundering and counter-terrorism financing laws.  

Nov 29 2019

Investors that have opted in to Westpac’s capital raising will be offered a refund in light of AUSTRAC’s decision to launch civil proceedings against the bank. 

Nov 28 2019

The combined growth of mutual banks has far outpaced the majors, having experienced loan book growth at over four times the rate of growth of the big four, according to KPMG.

Nov 28 2019

The major bank has informed investors that it is “not aware” of any breaches to anti-money laundering and anti-terrorism laws, in light of an ongoing AUSTRAC review.

Nov 27 2019

Outgoing Westpac chairman Lindsay Maxsted has warned against further board renewal amid speculation of a push from investor for more leadership changes.

Nov 27 2019

The major banks’ increased reliance on lending revenue is set to weigh on their profitability in the years ahead, particularly amid record-low interest rates, according to Moody’s. 

Nov 26 2019

Westpac CEO Brian Hartzer is to step down, alongside other board changes, following Westpac’s AUSTRAC scandal.

Nov 26 2019

OPINION: The full executive team and several members of the general management team at Westpac will lose all or part of their bonuses in 2019, as the bank assesses who is accountable for the ...