National Australia Bank's headline result, telling a tale of cash profit up 2.5 per cent to more than A$6.6 billion, was slightly overshadowed by the cutting of almost 20 per cent of the banking group's workforce. That's 6,000 jobs, out of around 30,000 currently. read more
Financial institutions / Big five & fintech (1,770 items)
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If there is one thing the major banks agree on, it's that they don't like sharing, even when it will be for the greater good of the banking sector. And they seem to be slow learners, too. read more
Briefs: Healy and Mentis job swap, Bluestone's second nonconforming RMBS, Eclipx returns via ABS deal
BNZ CEO Anthony Healy is to swap jobs with Angela Mentis, chief customer officer, business and private banking, at BNZ's parent, NAB role. read more
The mere facts of Westpac having a derivatives book, the sheer size of this portfolio and the material growth of derivatives at the bank provided scaffolding for ASIC agitation at the opening day of a trial over allegations of unconscionable conduct by the bank in the rates market. read more