Lender

The major bank has expanded its SME Recovery Loan Scheme offer to small businesses impacted by the pandemic, effective 1 October.

The major bank has once again extended its cashback and drawdown deadlines.

Treasurer Josh Frydenberg has backed the net-zero emissions by 2050 target, warning failure to comply will hurt banks’ access to capital and raise borrowing costs.

The major bank has named the former head of channels at Barclays Group as the new chief executive of its New Zealand division.

The Australian Office of Financial Management will allocate $30 million to the small-business lender under the government’s securitisation fund.

The proposed acquisition of Westpac PNG and Westpac Fiji by Kina will no longer proceed, it has been confirmed.

A new chief technology officer is set to join direct-to-consumer lender Tic:Toc as it ramps up capacity to meet “the surge in demand for digital lending”.

The major bank has confirmed that its new digital home loan product, Unloan, will be “focused on digital direct distribution to start with”.

The big four boss has voiced some scepticism around newer players in lending and how they present their products.

The mutual lender’s book has grown to over $8 billion, following strong growth in the final quarter of the financial year 2021, partly attributed to the broker channel.