Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.
Commonwealth Bank has withdrawn a controversial resolution asking shareholders to approve changes to its bonus scheme for chief executive Ian Narev, which would have introduced new performance hurdles relating to people and culture.
Westpac chief Brian Hartzer was paid $6.7 million last financial year - less than its predecessor Gail Kelly, but still about 80 times as much as the average Australian worker.
CBA notched up a $2.4 billion profit in its first quarter, unchanged from a year earlier, as higher funding costs and falling interest rates weighed on profit margins.
ANZ Bank says it is spending about $10 million a year less on its most senior executives, after recent senior appointments have been signed up on less generous packages than predecessors.
Westpac concedes it is paying out an unsustainable share of profits to shareholders as it seeks to preserve its dividend, raising questions about whether lower returns will force it to cut the payment in the future.
Three of the big banks are in a corporate brawl with Apple over access to the iPhone's payment technology.
Commonwealth Bank is staring down the barrel of a hefty vote against its remuneration report next week, as investors protest against the payment of multimillion dollar being paid despite a series of scandals.
ANZ Bank says it is prepared to surrender market share in home loans to rivals, as it eyes the risks of fast-rising house prices and soft household income growth.
ANZ Bank is considering selling off key parts of its wealth management business after it launched a strategic overview of the business because of disappointing returns.
A swag of banks including Westpac, National Australia Bank and ANZ Bank reduced some of their term deposit rates during October.
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