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Showing 4861 - 4870 of 17956 results for "Bank"

ANZ compensation bill hits earnings

KARREN VERGARA  |  MONDAY, 8 OCT 2018
ANZ will take a massive $374 million hit to its profit thanks to its customer remediation programs. The bank will recognise the losses in 2H18 for refunds owed to customers. It also factored in legal costs associated with the Royal Commission of $55 ...

Chi-x opens up access to tech darling Apple

KANIKA SOOD  |  MONDAY, 8 OCT 2018
... Alternative stock exchange Chi-x is giving Aussie investors access to international tech stock Apple in partnership with Deutsche Bank. Deutsche Bank has issued a security called transferable custody receipts (TraCRs) that will give Aussie investors ...

Bank cross-selling success declines: Research

KANIKA SOOD  |  MONDAY, 8 OCT 2018
The big four banks are capturing only about 30% of their customers' total spending on financial services products, according to new research. During the Royal Commission, the banks copped criticism for consistently referring existing customers to other ...

Banks to answer for Hayne report

JAMIE WILLIAMSON  |  MONDAY, 8 OCT 2018
... next round of public hearings on October 11, 12 and 19. The hearings will provide an important opportunity to scrutinise the bank chiefs following the Royal Commission, committee chair Tim Wilson said. "Commissioner Hayne's interim report identified ...

RC interim report is fair: Spot poll

KARREN VERGARA  |  MONDAY, 8 OCT 2018
Findings in Commissioner Kenneth Hayne's interim report are fair and reasonable, according to Financial Standard's latest spot poll. The interim report, which summarised his views of the first four rounds of hearings, included financial advice ...

Sequoia adds to board

KARREN VERGARA  |  MONDAY, 8 OCT 2018
Sequoia Financial Group appointed an investment management veteran as a non-executive director. Timothy Martin is a director and co-founder of private debt and direct lending boutique investment management firm Causeway Financial. Martin brings more ...

Chief economist update: An Indian surprise

BENJAMIN ONG  |  MONDAY, 8 OCT 2018
Just when we thought the times of central bank surprises were things of the past, the Reserve Bank of India (RBI) brought them back. The RBI kept interest rates unchanged - repo rate at 6.5%, reverse repo rate at 6.25% - at the conclusion of its October ...

CBA fires up over Dollarmites criticism

HARRISON WORLEY  |  FRIDAY, 5 OCT 2018
Commonwealth Bank has responded to widespread criticism of its longstanding Dollarmites program. Executive general manager of the bank's retail arm, Mark Jones said CBA is proud of its school banking program, which has been running now for 87 years. ...

Chief economist update: US bond yield jump made FTSE slump

BENJAMIN ONG  |  FRIDAY, 5 OCT 2018
The FTSE 100 index fell by 0.4% on September 13 - the day when the Bank of England (BOE) met and announced no change in monetary policy settings, keeping the bank rate at 0.75% (after the 25bps lift in August). While the BOE's move was widely expected ...

ASIC appeal convicts former CBA planner

KARREN VERGARA  |  THURSDAY, 4 OCT 2018
... dishonesty by a person occupying a position of trust. The documents forged were "protective in nature" both in terms of the bank and the clients, Rosengren said. When confronted by CBA staff that he had committed forgery, Gillespie denied doing so and ...