Australia

APRA revokes two banking licences

At the time of revocation, the bank had not launched any products.

APRA revokes two banking licences

At the time of revocation, the bank had not launched any products.

Australia’s AT1 phase out proposal unlikely to be replicated by other regulators

It will wipe out the concentration of AT1 instruments held by domestic retail investors.

Australia’s P&N, Beyond Bank likely to seek other merger opportunities

S&P foresees further consolidation in Australia’s mutual banking sector.

Australia’s P&N Bank scraps proposed merger with Beyond Bank

The merged entity would have been worth about $23.8b.

Australia’s planned AT1 phase out to have little impact on banks

If pushed through, the CET1 minimum requirement will rise to 10.50%.

Westpac names Anthony Miller as CEO

Before joining Westpac, Miller was the Australia/NZ CEO of Deutsche Bank for 4 years.

Citi nabs BofA, ex-Goldman Sachs’ bankers to boost ANZ markets business

The new senior hires also come from Perennial Partners and MST Financial.

Aussie mutual lenders may consolidate to fewer than 10: analyst

Up to 40 mutual lenders may consolidate and potentially disappear, said S&P analyst Lisa Barrett.

CBA to retain capital levels despite buyback, high dividend payout

Cash net profit after tax declined 2% in the latest financial year.

Australia proposes central clearing of bonds and repos

Financial regulators are inviting feedback to reassess its possible implementation. 

Airwallex clinches retail investment license in Australia

It will now be able to offer its Airwallex Yield product to the wider retail market.

NAB customer alerts lead to 17% decline in scam losses

Customers are said to have abandoned $100m in possible scam payments.

Fintech Airwallex records 84% revenue growth

Its Australia and New Zealand business saw revenue grow by 93%.

National Australia Bank arm invests on digital asset custodian Zodia

Zodia aims to onboard Austrlia's home grown digital asset exchanges in its platform.

Bank of Queensland’s tech bet leaves operating performance to chance

The bank may achieve savings— or leave its operating performance structurally weaker.