Thousands of NAB shareholders have copped a double hit to their investment portfolios this month as their market exposures to the embattled bank and a listed ghost from its past have been crunched on the ASX. read more
Financial institutions / Big five & fintech (2,234 items)
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Lexi Airey will take over the reins of NSW-based mutual, Gateway Bank, from next April. read more
The internal audit function of Commonwealth Bank nailed the group’s core deficiencies many times, but “there was not enough sense of urgency, and only fix things where they become mandatory compliance,” Matt Comyn, the bank’s CEO told the financial services royal commission yesterday.Putting things in a nutshell, Comyn said: “We seemed to be caught reacting, responding, remediating, in an ever increasing cycle of that without actually truly understanding the root cause [and] making the appropriate investments.” read more
New Zealand’s weighted average one-year fixed mortgage rate has dropped below 4 per cent for the first time. read more