Big four
Ticking crypto time bomb could spark another financial crisis
Decentralised finance, also known as DeFi, is being touted as a better option to existing stuffy financial services. But it’s rife with unregulated middlemen.
- by Dominic Powell
Latest
CBA tips 18% peak-to-trough fall in Sydney, Melbourne home prices
Commonwealth Bank economists expect larger falls in house prices on the back of this week’s interest rate rise.
- by Clancy Yeates
Big four banks to pass on full rate rise to customers
The four major banks will increase mortgage rates by 0.5 percentage points, passing on the Reserve Bank’s latest rate rise to customers in full.Â
- by Simone Fox Koob and Clancy Yeates
Westpac passes on RBA rate rise in full
Westpac is the first major bank to announce its interest rate decision, saying it would increase mortgage interest rates by 0.5 percentage points.
- by Clancy Yeates
Bank shares drop as rate rise sparks bad debt fears
The RBA’s surprise 0.5 percentage point lift in interest rates has sparked fears of rising bad debts and a weaker housing market.
- by Clancy Yeates
Banks unlikely to sting mortgage holders with higher rates than RBA
Bank profit margins are already benefiting from rising interest rates, while returns on most retail term deposits languish well below those offered to bigger investors.
- by Clancy Yeates
‘A fragile sector’: Bank bosses warn on construction risks
The chief executives of two of Australia’s biggest banks have underlined the mounting financial risks in the construction sector.
- by Clancy Yeates and Simone Fox Koob
Climate credentials essential as Westpac eyes green lending boom
The head of Westpac’s institutional arm says companies will need to prove they have credible plans to reduce their carbon emissions to get finance from a bank.
- by Clancy Yeates
Updated
National Australia Bank
NAB chief calls for more foreign workers as staff shortages are hurting businesses
While small-to-medium sized businesses have proved resilient during the pandemic, many are struggling now to find workers, says NAB CEO Ross McEwan.
- by Charlotte Grieve
Updated
Earnings season
ANZ chief says ‘small portion’ of mortgage customers will ‘suffer’
ANZ Bank chief Shayne Elliott is confident that only a minority of its customers will face hardship as the central bank moves into contractionary monetary policy settings to curb inflation.
- by Charlotte Grieve
Updated
Interest rates
NAB joins CBA, ANZ, Westpac in matching RBA’s rise in interest rates
NAB has joined the rest of the big four banks in passing on the full value of the Reserve Bank’s increase in interest rates to borrowers, as the era of ultra-cheap mortgages comes to an end.
- by Clancy Yeates