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Showing 411 - 420 of 3057 results for "ANZ - 23 %"

ANZ profits hit by remediation, low rates

ELIZA BAVIN  |  THURSDAY, 31 OCT 2019
ANZ's full year profit fell 7% to $5.95 billion compared to last year, with the bank blaming record low interest rates, increased regulation and a rise in customer remediation costs. ANZ chief executive Shayne Elliott said: "This has been a challenging ...

Industry fund hires new product lead

ELIZABETH MCARTHUR  |  TUESDAY, 29 OCT 2019
An $11.4 billion industry fund has welcomed a new product manager who previously worked at BT Financial Group, ANZ and Perpetual. Quyen Woodrow steps into the product manager role at NGS Super. In her new position, Woodrow will be responsible for the ...

Chief economist update: Beam us up Scotty

BENJAMIN ONG  |  FRIDAY, 25 OCT 2019
An RBA rate cut won't happen on Melbourne Cup Day, 5 November. But it will happen - perhaps down to negative and up to the point where the Australian central bank is forced into quantitative easing and print Australian dollars. This is because latest ...

Westpac takes $1 billion profit hit

ELIZA BAVIN  |  THURSDAY, 24 OCT 2019
Westpac's customer compensation bill has added $341 million in the second half of 2019, bringing the remediation total to $958 million for the year. Westpac chief executive Brian Hartzer said: ""A key priority in 2019 has been to deal with outstanding ...

Chief economist update: Rate cuts coming, but not on race day

BENJAMIN ONG  |  MONDAY, 21 OCT 2019
Unless a positive shock emerges over the next few months, expect the RBA to continue lowering interest rates and the Morrison government to increase fiscal spending (but only after it's achieved having the Budget surplus immortalised on paper). ...

IOOF acquires OnePath at a discount

ELIZA BAVIN  |  THURSDAY, 17 OCT 2019
IOOF has secured the sale of ANZ's OnePath pensions and investments business for $850 million, down from the original sales price of $975 million announced in October 2017. ANZ said the new price includes around $25 million that it has already received ...

UniSuper appoints chief operating officer

JAMIE WILLIAMSON  |  TUESDAY, 15 OCT 2019
The $80 billion superannuation fund has appointed a former NAB general manager as its first chief operating officer. Kevin Roadnight will join the UniSuper executive team in the newly created role to lead its finance and legal and governance functions. ...

ACCC to probe rate cut decisions

HARRISON WORLEY  |  MONDAY, 14 OCT 2019
The Australian Competition and Consumer Commission (ACCC) has been directed by the government to immediately establish an inquiry into the behaviour of Australia's banks when it comes to passing on interest rate cuts. Announcing the inquiry on this ...

ANZ remediation costs break $1 billion

ELIZA BAVIN  |  TUESDAY, 8 OCT 2019
The additional charges have pushed the total customer refunds paid by the bank to over $1 billion. The bank said $405 million is the result of fee and interest calculations following reviews of Australian retail and commercial products. Another $154 ...

Chief economist update: This is a job for the RBA (and the Treasury)

BENJAMIN ONG  |  FRIDAY, 20 SEP 2019
Sub-one percent official cash rate here we come! The Australian dollar's near half a cent drop to US$67.84 on the day immediately following the US Federal Reserve's announced a 25 bp cut in the fed funds rate underscores financial markets' ...