Big four banks

Funds management

Airlie questions future of banking sector

Banks are ‘confusing’ as they look cheaper now relative to any period of history but the outlook is not great for the sector, according to Airlie Funds Management....

Financial planning

Satisfaction of Aussie banks improves during COVID-19

Satisfaction scores from consumers have improved in May, according to data from Roy Morgan....

Funds management

Magellan bucks downward market trend for financials

Magellan Financial Group is the only listed financial firm to have reported positive returns in the first half of 2020 with returns of 3.1% as the company funds under man...

Funds management

Big four lend $35.5b to coal, oil, gas since Paris Agreement

Commonwealth Bank and ANZ are “the worst” offenders with each lending to projects with emissions equivalent to nearly eight years of Australia’s total greenhouse gas emis...

Funds management

State Street avoids Aussie financials

A lack of exposure to the financials, including the big four banks, has helped the State Street Australian Equity fund to outperform its Australian equity peers....

Financial planning

COVID-19 adds $1.6b to Westpac impairment charges

Westpac has announced it expects to see $2.2 billion (pre-tax) in impairment charges in the first half of 2020, with $1.6 billion of this related to the impact of COVID-1...

Financial planning

COVID-19 significantly hits NAB half

National Australia Bank has taken a significant hit from COVID-19 related issues, with MLC Wealth also feeling the pain....

Financial planning

ANZ accused of ‘exploiting crisis’ with leave policy

ANZ staff have filed complaints of unfair treatment with the union as the bank is demanding they take leave during the COVID-19 shutdown, despite banks being classified a...

Financial planning

FPA urged Treasury to differentiate between large and small licensees

The Financial Planning Association urged the Treasury to ensure the costs of extra regulatory scrutiny of major licensees such as the banks and AMP were not ultimately ca...

Financial planning

Bank satisfaction rises post-Royal Commission dip

Customer satisfaction among the big four banks is improving for the first time since the Royal Commission, according to Roy Morgan research....

Funds management

Remediation costs weigh on profits at Commonwealth Bank

Commonwealth Bank has reported a 28 per cent fall in third-quarter cash profit from continuing operations of $1.7 billion as a result of $714 million in customer remediat...

Financial planning

Smaller banks winning favour with consumers

The Net Promoter Score for the Big Four is sitting at minus 1.6 for the six months to this February, significantly below the latest rating of 23.2 for banks outside of th...

Financial planning

Big four amongst top grad employers: GradAustralia

Despite being implicated by the Royal Commission, banking institutions remain amongst the top graduate employers, according to GradAustralia’s Top 100 Graduate Employer s...

Policy & Regulation

Greens would compel banks out of wealth management

The banks would be compelled out of the wealth management industry and AMP would have to break up its operations under policy proposals flagged by the Australian Greens i...

Funds management

Financial sector in top spot despite RC

While the Royal Commission’s final report was touted to rock the financial services industry, the financial sector has defied expectations, according to FE Analytics. ...