Interest rates, consumer (124 items)

Major banks outpaced on retail deposits

Research conducted by Mozo has identified sustained price leadership as the main driver of impressive deposit gains posted this year by a clutch of regional and customer-owned banks. The latest monthly banking statistics published by the Australian Prudential Regulation Authority show that non-major banks continued to win market share from the majors in retail deposits. read more

Briefs: Westpac hit with reporting breach penalty, Board members for Victoria's Treasury Corp, SA bank levy first of many, CBA lifts interest rates

Westpac Banking Corporation has paid a penalty of A$127,250 to comply with an infringement notice issued by ASIC in response to an alleged breach of the market regulator's derivative transactions reporting rules. read more

Briefs: Westpac adjusts home loan rates, Firstmac's $4bn online loan book, New CEO for LIXI

Westpac customers with 'principal and interest' owner-occupier home loans will receive an eight basis points interest rate reduction from 30 June 2017, pushing the bank's annual standard variable rate down to 5.24 per cent. But both investors and owner-occupiers with a Westpac interest-only loan will be paying more. read more

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