Clancy Yeates writes on business specialising in financial services. Clancy is based in our Sydney newsroom.
Westpac and National Australia Bank have both raised interest rates for key groups of home loan customers, as banks look to protect their profit margins by passing on higher funding costs.
An age-old debate was re-ignited last week, when the OECD called for higher interest rates to rein in Australia's resurgent housing market.
SocietyOne, a peer-to-peer lender that is partly owned by Rupert Murdoch, Kerry Stokes and James Packer's companies, expects to start making profits within the next 12 to 18 months.
Suncorp Group is trying to emulate the success of Apple Stores with new financial services outlets that attempt to make going to a bank more like visiting a top retailer.
CBA is raising interest rates on a range of fixed-rate home loans, the latest big bank to increase costs for home buyers seeking to lock in their borrowing costs.
ANZ Bank chief Shayne Elliott insists the bank's strategy of breaking ranks with rivals and doing a deal with Apple Pay is helping the lender's business.
The high-rise construction boom that is transforming the skylines of Sydney, Melbourne and Brisbane will probably leave parts of these cities with too many apartments, ANZ Bank chief executive Shayne Elliott predicts.
Bank of Queensland chairman Roger Davis has highlighted the risks from a looming surge in apartment settlements Brisbane and Melbourne, amid signs more buyers are facing difficulties completing off-the-plan purchases.
The competition watchdog has knocked back a request from three of the country's major banks to launch a collective boycott of Apple Pay, in what it says is a "finely balanced" draft decision.
For all the criticism heaped on banks, most customers are notoriously reluctant to vote with their feet, and the industry knows this all too well.
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