Lender

The wealth and banking group has recruited from QSuper for its new general manager of retirement solutions.

The chief executive and managing director of MyState Bank will be retiring from his role at the end of the year, after delaying his exit to steer the bank through the pandemic.

A major bank has announced that it has entered into an agreement with Citigroup to acquire its consumer bank in Australia for $1.2 billion.

The ASX-listed company is to acquire a personal lending fintech for $200 million, it has been announced.

The Reserve Bank and fellow watchdog APRA are preparing to arm themselves should lending standards deteriorate, with its governor saying he “couldn’t rule it out within the next year”

Almost 24,000 customers have accessed hardship support from banks since early July, with 64 per cent opting to defer loan repayments for up to three months, according to new data.

The lender has announced a $500-million residential mortgage warehouse facility, which it said completes its transition to becoming a non-bank lender.

Half of Australians believe credit providers should proactively monitor their customers’ financial health to pre-empt hardship, according to a new survey.

A director for BHP, Medibank Private and Stockland is set to take a seat on the big four bank’s board.

New Zealand’s central bank is primed to further tighten mortgage lending standards, following concerns with a rise in high-LVR and high-DTI lending.