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Showing 3031 - 3040 of 17956 results for "Bank"

CBA feels pressure of low rates, profits down

ANNABELLE DICKSON  |  WEDNESDAY, 11 NOV 2020
Commonwealth Bank of Australia reported a decrease in cash profit down for the September quarter due to lower margins and higher expenses. The preliminary figures show cash profits down 16% to $1.8 billion on the same period in the previous year. The ...

Chief economist update: Letter V going viral in Australia

BENJAMIN ONG  |  WEDNESDAY, 11 NOV 2020
... in lockdown and some inter-state borders were closed. It could only get better from here because: Since then, the Reserve Bank of Australia (RBA) has provided more money. At its 3 November Board meeting, it went a-cutting bringing the official cash rate ...

Fintech hires in Australian expansion

ELIZABETH MCARTHUR  |  TUESDAY, 10 NOV 2020
A US-based fintech has appointed a head of international sales, who will be tasked with driving revenue growth in Australia and New Zealand. Jason O'Shaughnessy steps into the role at data aggregation and analytics for financial services provider Envestnet ...

Financial services complaints rise

ELIZA BAVIN  |  MONDAY, 9 NOV 2020
Complaints made about financial services have almost doubled since last year, according to the Australian Financial Complaints Authority (AFCA). In its yearly report, AFCA revealed complaints had risen to 80,546 from 47,223, which is a 14% increase ...

Macquarie profits slide 32%

KANIKA SOOD  |  FRIDAY, 6 NOV 2020
Macquarie Group reported $985 million in net profit for the six months ending September, 23% lower than the previous half and 32% lower than same period last year. "Recent months have been overshadowed by the profound human impact of COVID-19 global ...

RBA measures not solely due to COVID: Treasury

ELIZA BAVIN  |  FRIDAY, 6 NOV 2020
The unconventional monetary policy measures launched by the Reserve Bank of Australia are not solely a result of the COVID-19 shock, Treasury Secretary Steven Kennedy said. Speaking to Australian Business Economists for a post-budget briefing, Kennedy ...

Chief economist update: More money for reimposed lockdown

BENJAMIN ONG  |  FRIDAY, 6 NOV 2020
... policies came into play. Renewed lockdown measures in England - starting November 5 - have prompted the government and the Bank of England (BOE) into action. UK Chancellor of the Exchequer Rishi Sunak announced the extension of the government's furlough ...

Pengana shutters income-focused fund

KANIKA SOOD  |  THURSDAY, 5 NOV 2020
Pengana Capital will wind up an income-focused Australian equities fund, as it underperforms and the income opportunities in ASX stocks shrink. The Pengana Australian Equities Income Fund invested in 20 to 40 ASX-listed companies, with a focus on income. ...

IOOF unfazed by poor MLC result

ELIZA BAVIN  |  THURSDAY, 5 NOV 2020
... billion in a deal announced in August this year. As such, this is the last time MLC's performance will be reported by the bank prior to the completion of the acquisition. MLC's cash earnings of $62 million for the year to September 30 was a significant ...

Bendigo closes SmartOptions Super

KARREN VERGARA  |  THURSDAY, 5 NOV 2020
Bendigo and Adelaide Bank has closed its SmartOptions product due to a lack of demand. Bendigo SmartOptions Super (formerly Bendigo Super Plan), which closed on September 26, was established more than 20 years ago. It closed to new members from July ...