The bank unveiled a cash profit of $172 million in the six months to February 29,down 33 per cent compared to the first half of last year.
Bank margins will continue to dwindle in the first half of this financial year,analysts say,as customers move their savings into higher-interest offerings.
Economic regulators are reporting an increase in the number of Australians falling behind on their monthly mortgage repayments.
More than 1400 bank branches have closed in Australia since 2017. But there are key reasons why it’s important for banks to maintain their physical presence.
Universities Accord panel chair Dr Mary O’Kane has urged authorities to look at the impact of HECS-HELP on home loan assessments as young people struggle to enter the housing market.
Creditnet Bank Internationale has no office and does not take deposits from consumers. Yet the group has found itself at the centre of controversial moments in Australian corporate history and an attempted $25 billion fraud on the nation of Palau.
Financial planners and super funds are not doing enough to address underperformance of superannuation investment options.
Australia’s high level of household borrowing could pose risks to the economy as late payments tick up according to the country’s financial regulators.
Poor perceptions about the public health system and surgery waitlists are helping drive the trend.
The collapse of Silicon Valley Bank earlier this year has prompted the financial regulator to tighten some of its standards,focusing on pulling smaller banks in line with the big four.
Commonwealth Bank chief Matt Comyn says about 40 per cent of the bank’s 728 bank branches are in regional areas – but that CBA has to maintain profitability.