Lender

Non-bank lender TechLend has gained $50 million in funding from a Silicon Valley venture fund, with plans to turbocharge the growth of its business.

The CEO of a customer-owned lender has warned that mutual banks that do not have scale and financial strength will be ‘unsustainable’ in future.

Two more major banks have signalled both permanent and partial closures in their branch networks.

There has been sustained robust growth in home lending driven by strong owner-occupied lending and faster growth in investor housing, according to data.

The big four bank has signalled that it will buy back up to $2.5 million of its shares, deciding to shed surplus capital despite the ongoing COVID situation.

A prime residential lender has announced the pricing of one of its largest prime residential mortgage-backed securities to date.

The Commonwealth Bank has indicated that it will cut opening hours across 90 regional branches, with impacted staff to spend the rest of their working day giving remote customer support.

Revolut has recruited from 86 400 and Citi for two senior additions to its local team, including a new head of lending.

The RBA has stated that APRA succeeded in curtailing a drop in home lending standards by implementing macro-prudential policies between 2014 and 2018.

CBA has made its green loans available to all eligible home loan customers nationally, and launched a sustainability hub.