Lender

Senator Jane Hume, Minister for Superannuation, Financial Services and the Digital Economy, has taken over from the ACCC as Consumer Data Right rule maker.

The bank has reduced lending rates on some SME loans by up to almost 50 bps on new lending for products offered under the SME Guarantee Scheme.

Teachers Mutual Bank Ltd has welcomed new directors to its board and bid farewell to John Kouimanos, who has retired from the board after 40 years.

New loan commitments reached another record high in January, with new owner-occupier loans breaking the $22-billion mark for the first time.

The non-major bank has launched its new tagline in Australia as it moves to reflect its commitment to helping customers do the things that matter most to them.

The Treasury has outlined its position on why the repeal of responsible lending is necessary, in the final day of Senate hearings for its inquiry into the matter.

The SME lender’s loan origination volumes continue to recover from its COVID trough, but originations in 1H21 were still down 41.1 per cent on the pcp.

Politicians have traded blows while debating the repeal of responsible lending laws in the lower house, ahead of today’s Senate hearings.

The non-bank lender reported an 88 per cent rise in profit and a 14 per cent increase in its loan book over 1H21, despite a drop in the volume of new settlements.

There was a 26 per cent rise in loans originated through the broker channel at the non-major bank as at 31 December 2020, according to its results.