Lender

P&N Group has appointed its first chief transformation officer to the executive team as the customer-owned lender grows its reach.

Two of the big four banks have reported sharp contractions in their mortgage portfolios, in contrast to their peers who have built on recent momentum, new APRA data has revealed.

The major bank has agreed to sell MLC Wealth to IOOF Holdings for $1.44 billion, subject to regulatory approvals and conditions being met.

An increase in settlements via both its direct and third-party businesses has contributed to a 47 per cent increase in the group’s earnings.

Accountancy software giant Xero is set to break into SME lending by acquiring invoice finance platform Waddle and looking to launch new products.

The major bank has announced the resignation of its chairman and the appointment of his successor.

The non-major bank has partnered with CoreLogic to develop a new calculator that estimates the costs of home renovations.

The financial services regulator has told the major bank that it will not take any enforcement action against it regarding alleged breaches of AML/CTF rules.

Challenger bank 86 400 has become the first neobank to join the online broking platform’s lender panel.

The industry fund-owned bank has introduced Google Pay for cardholders as customers increasingly switch to contactless payments, especially in the wake of the COVID-19 pandemic.