non-major banks

Closing branches in regional areas will have a ‘disruptive’ impact on SMEs and cause a ‘ripple effect’ on communities, the small business ombudsman has warned.

The commission is calling for submissions on how NAB’s proposed purchase of Citi’s Australian consumer bank would impact competition.

AMP has confirmed when chief executive Francesco De Ferrari will step down and when his replacement will take the reins.

The ABGF CEO and former NAB executive has joined the board of Bank Australia as an independent non-executive director.

The lender has become the latest big four bank to increase its fixed interest rates.

The prudential regulator is giving banks additional time to implement several prudential standards for market risk, in response to “industry feedback”. 

APRA has intended to change the definition of long-term interest-only home loans following industry feedback to proposed changes to its ADI capital framework.

Higher risk lending could become less profitable for the banks, with new standards to require more capital set aside for interest-only and investor loans.

The mutual bank’s chief is set to step down later this year to lead a federal government commission.

A mutual bank has welcomed 3,000 new members after completing its merger with a credit co-operative.

Teachers Mutual Bank Ltd has made two new appointments to its executive leadership team. 

A UK major bank has been granted a foreign banking licence to operate in Australia, with a Sydney branch set to open in April 2022.

Fintech Frollo has added neobank Up to its open banking platform, with more consumer data holders expected to follow in the coming weeks.

Beyond Bank has partnered with fintech Frollo, to use its open banking data-sharing platform.

The credit union and bank have entered into merger discussions, looking to potentially form “one of Australia’s larger customer-owned banking organisations”.

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 non-major bank has signed off on the $151.6 million sale of Finsure.

Bank of Queensland has outlined its growth strategy for ME Bank’s home lending after its book was squeezed in the 2021 financial year.

Mortgage Business has launched its annual survey for brokers to assess the performance of Australia’s mortgage lenders, which will provide both brokers and lenders with insights.

Pre-registrations have opened for Citi’s upcoming buy now, pay later offering, Spot., which will launch in October.