Latest News

• Ian Rogers

Incredibly, Prosegur are interested in buying Armaguard, but this won’t be needed. The ABA is understood to have reached terms with Armaguard that will assure cash distribution is maintained. read more

• John Kavanagh

Non-bank lender Thinktank is working on a funding deal with a global bank that will allow it to more than double the maximum size of its residential property mortgages. read more

• John Kavanagh

EML Payments reported its first good news to investors in almost three years on Wednesday, when it announced that the UK Financial Conduct Authority had removed a ban on its subsidiary Prepaid Financi.. read more

• John Kavanagh

Heartland Group has completed a NZ$210 million equity raising. read more

• Ian Rogers

The deeply idealistic fintech Maslow has set itself a target of one million customers in five years’ time. This would make it even more successful than Up, in the event Maslow ever pull this off. read more

• John Kavanagh

Investors are increasingly attracted by the scalability and illiquidity premiums on offer within the flourishing segment that is 'whole loan sales'. read more

• Ian Rogers

One or more of the four Australian-own banks that command New Zealand’s banking sector can be relied on to take on the role of a maverick, or so the Reserve Bank of New Zealand believes. read more

• Ian Rogers

The maximum income for a single participant in the Commonwealth’s new shared equity scheme will be $90,000, Program Directions for the Help to Buy scheme show. read more

• Ian Rogers

Expect bank dividends to be slashed under severe climate risk scenarios, while bad debts (at 5 times the base case) will be dreadful, with the industry facing 20 years of losses. read more

• John Kavanagh

Macquarie Group’s banking and financial services division is getting out of the vehicle finance market, saying it is focusing its attention on “delivering market-leading digital experiences in its cor.. read more

• John Kavanagh

Auswide Bank’s new chief executive Doug Snell had his first day on the job yesterday. read more

• John Kavanagh

Macquarie Bank has been fined $10 million for failing to have effective controls on customer cash management accounts to detect and prevent unauthorised fee transactions conducted by third parties. read more

• John Kavanagh

The Financial Counselling Industry Fund, which will administer industry contributions to the financial counselling sector, has opened for business with $33 million of commitments in its kitty. read more

• John Kavanagh

Westpac has partnered with mortgage processing technology company NextGen to use open banking for home loan applications across all its brands. read more

• John Kavanagh

Viki Carter has stepped in as interim chair of Bendigo and Adelaide Bank. read more

• Ian Rogers

New Zealand is dreaming of a ‘digital cash’ version of the NZD currency. The only form of money “backed by the government and available to the public” is the promise. But the public isn’t being told a.. read more

• John Kavanagh

Business entering external administration reached 7,742 during the first nine months of the financial year and are on track to reach 10,000 by June 30 – a level not seen for more than 10 years. read more

• John Kavanagh

A key driver of the fall in banks’ net interest margins over the past couple of years has been the 60 basis point decline in the spread between lending rates and funding costs. read more

• John Kavanagh

Lenders increased rates on outstanding mortgages by a total of 320 basis points between May 2022 and December 2023, which was 105 bps less than the increase in the cash rate over that period. read more

• John Kavanagh

Rising dwelling values and interest rates in the second half of 2023 pushed the share of income needed to service a new home loan to a record high, and a new report says there is little prospect of th.. read more