While some companies have tied office attendance to pay in a bid to get employees back in the office,it could come with unintended consequences.
Shayne Elliott signalled the bank would remain “competitive but not market-leading” in its mortgage pricing as it looks to grow home loans profitably amid high inflation and interest rates.
ANZ will this week challenge the watchdog’s concerns about entrenching a banking oligopoly,as it seeks to become Australia’s third-largest home lender.
The metrics around affordability as outlined by this week’s report from ANZ and CoreLogic are concerning,at best – and at worst,absolutely frightening.
ANZ Bank is adding lower-cost digital home loans to its wider arsenal as it looks to grab a bigger share of the $2.1 trillion home loan market.
Now that all the major banks have reported their 2023 profits,the conventional notion that Australia’s big four lenders act as a herd is being challenged.
ANZ boss Shayne Elliott warned of a tougher outlook amid geopolitical risks and said the worst was yet to come for households,but said the bank would look to “cautiously” grow its home loans.
The mortgage war is taking a bite out of bank profits,and analysts say CBA could unleash more competition if it looks to turn around losses in market share.
The ASX limped to the finish line and Wall Street broke one of its longest winning streaks in two decades as pressure cranked higher from the bond market.
Pressure on mortgage holders will be ratcheted up another notch if the Reserve Bank increases the cash rate on Tuesday.
Cybercriminals are coaching victims,recruiting money mules and ramping up attacks. Banks are in the business of making this an expensive exercise.