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Showing 1 - 8 of 8 results for "Lower margins"

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 ...

Westpac profits down on AUSTRAC fine

ANNABELLE DICKSON  |  MONDAY, 2 NOV 2020
... platforms and investments cash earnings at $111 million, down from $285 million in 2019 which Westpac says was due to lower margins and higher compliance costs. Insurance recorded a net loss of $480 million due to bushfires, storms and lower premiums ...

ANZ posts profit, announces dividend

ELIZA BAVIN  |  WEDNESDAY, 19 AUG 2020
... quarter, with ANZ saying it benefitted from a stronger markets performance (around 60% higher), partly offset by lower margins and transaction volumes. The board announced the 25 cents per share dividend, which will be paid to shareholders, which the ...

Financial advice drags BTFG results

KARREN VERGARA  |  MONDAY, 6 MAY 2019
... decline was due to the exit of Hastings ($180m), higher general insurance claims for major weather events ($66m), lower margins from the decision to reprice certain platform fees ($8m) and discontinuing grandfathered commissions ($21m). As a result of ...

Rice Warner predicts super fee-hike

HARRISON WORLEY  |  TUESDAY, 12 MAR 2019
... Warner said. "The Single Touch Payroll process should help to reduce costs, but on balance, administrators will have lower margins. "Fees will need to rise to provide the same services to members. This will make many smaller funds unviable, and we have ...

MySuper fee savings can be doubled

MARK SMITH  |  THURSDAY, 6 AUG 2015
... costs. Rice Warner head of superannuation insights Nathan Bonarius said across the super industry, scale benefits and lower margins would've contributed to a 60 basis point reduction in fees since 2004. However, investment expenses have gone up 15 basis ...

Australian operations boost GBST

MARK SMITH  |  THURSDAY, 13 FEB 2014
... the United Kingdom but competition also increased, Lake said. Product development expenditure had also resulted in lower margins. "The strength of our Australian operations and annuity licence income, which provides nearly two-thirds of total revenue ...

Life insurance faces worst conditions in decades

LAURA MILLAN  |  TUESDAY, 5 NOV 2013
... report says. "However, integrating the wealth businesses within Australia's banking sector remains a challenge." Lower margins from new superannuation and wealth products and continued competition have challenged shareholder returns in the wealth and ...
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