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Commonwealth Bank profit jumps to $5.15bn amid rising interest rates

TheGuardian

Australia’s biggest lender attributes stronger result to volume growth and a recovery in margins Follow our Australia news live blog for the latest updates Get our morning and afternoon news emails , free app or daily news podcast The Commonwealth Bank of Australia has delivered a jump in half-year profit as it benefited from rising interest rates (..)

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Australian banks buckle to pressure and vow to block transfers to suspect accounts

TheGuardian

Consumer groups have long lobbied for institutions to crack down on scams by rejecting transfers if name and bank details of recipient don’t match Follow our Australia news live blog for latest updates Get our morning and afternoon news emails , free app or daily news podcast Australian banks have buckled under pressure and will do more to fight scams (..)

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Competition watchdog overruled as tribunal gives ANZ-Suncorp merger go-ahead

TheGuardian

Proposed $4.9bn takeover of Queensland company’s banking arm gets green light as tribunal rules that it will not lessen competition Follow our Australia news live blog for latest updates Get our morning and afternoon news emails , free app or daily news podcast ANZ is celebrating a massive legal win after the consumer watchdog’s rejection of its proposed (..)

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National Australia Bank reports 8.8% lift in cash profit to $7.7bn

TheGuardian

Strong competition for mortgage customers is putting pressure on its margins, NAB says Follow our Australia news live blog for latest updates Get our morning and afternoon news emails , free app or daily news podcast National Australia Bank has recorded a strong lift in its cash profit to $7.7bn, while flagging that strong competition for mortgage (..)

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Australia’s big four banks face shareholder ire over funding fossil fuels

TheGuardian

At their annual meeting on Wednesday, shareholders at Australia’s biggest bank, the Commonwealth, will consider a resolution lodged by activist group Market Forces that was aimed at stopping it from financing new fossil fuel projects or the expansion of existing ones.

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Australian banks hit with payment transfer outage as RBA blames technical error

TheGuardian

Sign up to receive an email with the top stories from Guardian Australia every morning Continue reading. The RBA confirmed the issue affected its fast settlement service which provides for the settlement of New Payments Platform (NPP) transactions between banks.

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CEOs of Australia’s top 20 companies given nine times the pay rise of full-time workers

TheGuardian

The NAB CEO, Ross McEwan, received the biggest pay rise in percentage terms among the group, with the total value of his remuneration rocketing almost 130% from $2.31m to $5.29m. Continue reading.

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