CBA backs down on pay ahead of AGM
CBA will receive a first strike on Wednesday so has bowed to investor pressure and withdrawn a move to more closely link CEO Ian Narev's pay to soft targets.
James Eyers writes on Banking & Finance specialising in Financial Services, Investment Banking, Opinion. Based in our Sydney newsroom, James is a former Legal Affairs and Capital editor for the Financial Review.
CBA will receive a first strike on Wednesday so has bowed to investor pressure and withdrawn a move to more closely link CEO Ian Narev's pay to soft targets.
AustralianSuper says so-called 'soft' non-financial targets used to set bonuses lack "clarity and transparency".
In a week where their profit growth stalled for the first time since the GFC, the big four banks stopped talking about growth.
CBA is at risk of becoming the first bank in Australia to receive a "strike" on its remuneration report.
CBA says low interest rates, the stronger $A and higher insurance claims have reduced operating income growth for the first quarter.
Banks will need to continue to reduce costs to maintain their dividends.
Infrastructure spending would help boost corporate confidence and business spending, Brian Hartzer says.
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The Productivity Commission says market forces should drive the evolution of data-sharing by banks.
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ANZ chief Shayne Elliott insists ANZ remains Australia's most outwards looking bank despite selling its retail and wealth operations in five...
ANZ Banking Group has offloaded its retail banking operations and wealth management businesses in five Asian countries to DBS of Singapore.
Commonwealth Bank of Australia and Alipay of China have struck a deal to turn on Alipay in Australia through CBA's payment terminals
Top analysts say the trajectory for NAB's dividend remains downwards, with cuts to shareholder payouts still tipped for next year.
NAB shares closed higher as investors showed relief that the dividend was maintained.
But wholesale funding costs could rise and the battle for mortgage customers will continue, keeping interest margins under pressure.
Thorney Investment Group has seeded the Timelio Capital Fund, a new unit trust to be offered to institutional investors seeking a diversifie...
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