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Westpac will reduce its tax bill by $635 million in the financial year just ended, following resolution of most of the tax consolidation issues surrounding the takeover of St George Bank in early 20.. read more

Derek Lightfoot, chief executive of The Rock Building Society, left the firm on Friday and has been replaced by Stuart McDonald as interim CEO. read more

The flap over whether, and why, banks might lift margins on home loans has flared up again in Canberra, assisted by the measured observation of a Treasury official and the more colourful contributio.. read more

The rising exchange rate is working to restrain rises in the cash rate in Australia, the Reserve Bank of Australia confirmed in the minutes of its October board meeting, published yesterday. read more

Australia's political class must rekindle "leadership", ANZ's CEO, Mike Smith, told a business lunch in Melbourne yesterday. read more

The Australian Office of Financial Management recorded mark-to-market losses of $72 million on its holdings of $9 billion in mortgage-backed securities as of June 2010, according to the agency's ann.. read more

Australia Post's financial services business recorded a decline in revenue, and presumably volume, in the year to June 2010, according to the corporation's annual report. read more

Graeme Samuel, chair of the Australian Competition and Consumer Commission, has warned banks over signalling their interest rate pricing plans to each other, saying it borders on misconduct. read more

Bank of Queensland will seek to wind back what it regards as excess liquidity, and emphasise wholesale funding in its plans for the next year. read more

Bank of Queensland will look to "asset repricing" of its existing loans and the higher yield it can earn from its newly expanded business finance arm to deliver the improvement in margin needed to rea.. read more