Moody's warns on rising commercial property risks to banks
Australian banks are at growing risk of being burned by their financing of office towers and inner-city apartments, credit rating agency says.
Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.
Australian banks are at growing risk of being burned by their financing of office towers and inner-city apartments, credit rating agency says.
National Australia Bank isn't the only big corporate donor to quietly put the brakes on cash payments to political parties in recent months.
Australia's $2 trillion in retirement savings is a key target for cyber criminals trying to pry their way into the country's financial institutions, an official survey has found.
Malcolm Turnbull promises a 'low-cost, speedy tribunal' to deal with customer gripes against banks. Not all consumer groups are convinced.
National Australia Bank has highlighted risk of an apartment glut in parts of inner Sydney and Melbourne, as a separate survey suggested hundreds of thousands of indebted Australians had not equity in their properties.
More than a quarter of borrowers admit to "stretching the truth" when applying for a mortgage, according to "disturbing" findings of a new survey of homebuyers by UBS.
Western Australia and Queensland have the highest proportion of homeowners with mortgage debt that is equal to, or larger than, the value of their property, a survey shows.
Commonwealth Bank faces $180,000 in fines and a $2.5 million writedown after 'system error' assumed customers applying for credit had no housing expenses and unrealistically low living costs.
Westpac has joined the Commonwealth Bank in cutting the size of mortgage discounts it is offering new customers.
Shareholders who bought into Australia's first big privatisation, the 1991 float of the Commonwealth Bank, are sitting on hefty gains in their investment.
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