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Showing 181 - 190 of 2019 results for "National Australia Bank"

Chief economist update: RBA May cut, May not

BENJAMIN ONG  |  FRIDAY, 3 MAY 2019
... "politicised" and "taint" the election, according to APA Group chief executive Mick McCormack. At least, National Australia Bank chief executive Philip Chronican was more forthcoming: "Interest rate cuts would further squeeze bank margins, profits and ...

NAB, Nippon lock heads over MLC

KARREN VERGARA  |  THURSDAY, 2 MAY 2019
The National Australia Bank is clashing with Nippon Life about spinning off MLC as a standalone entity, admitting it is amid "disputing" contractual obligations. NAB revealed in its March 2019 interim financial results this morning a number of disputes ...

IRESS appoints managing director

ELIZABETH MCARTHUR  |  WEDNESDAY, 1 MAY 2019
A former head of business consulting for MLC and head of insurance and licensee services for National Australia Bank will take on a leadership role at IRESS. IRESS has announced the appointment of Phil Quin-Conroy to the role of managing director of ...

NAB remediation bill hits $1.1bn

JAMIE WILLIAMSON  |  THURSDAY, 18 APR 2019
National Australia Bank has set aside an additional $525 million for customer remediation, more than 90% of which is in relation to its wealth operations. The total owing is now estimated at more than $1.1 billion. Announced today, the $525 million ...

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
... clearly covered under the Corporations Act. Court settlements were ordered against Commonwealth Bank, National Australia Bank and ANZ on similar matters. Total civil penalties against these banks came to $25 million. Total community benefit payments ...

NAB needs 500 staff for remediation

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
National Australia Bank chief executive Philip Chronican has acknowledged the institution needs to go to great lengths to repay customers. In his opening statement to the House of Representatives Standing Committee on Economics, Chronican began by saying ...

NAB ends introducer payments

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAR 2019
National Australia Bank will no longer make referral payments to introducers. NAB chief executive Philip Chronican said ending "introducer" payments was part of NAB's ongoing efforts to be a better bank following the Royal Commission. He said: "Through ...

Macquarie axes SMSF residential property loans

ELIZABETH MCARTHUR  |  THURSDAY, 21 MAR 2019
... offering SMSF lending for residential property, amid regulatory concerns and falling property prices. National Australia Bank stopped offering SMSF loans for residential property in 2015. Banks have phased out these limited recourse borrowing arrangements ...

Banks must prioritise NPP, says Reserve Bank

ELIZABETH MCARTHUR  |  TUESDAY, 19 MAR 2019
... system last year. In emails sent by Lowe to the chief executives of ANZ, Commonwealth Bank, Westpac and National Australia Bank last September, he expressed concern at how long it was taking to roll out the high speed payment system, saying: "The concern ...

NAB agrees to RC wealth recommendations

HARRISON WORLEY  |  FRIDAY, 15 MAR 2019
National Australia Bank agreed to all of the Royal Commission's recommendations directly relating to the wealth management industry. Releasing its full response to Commissioner Hayne's 76 suggested changes to Australia's financial services industry ...