Today
- Opinion
- Opinion
We should be glad banks are speaking up
Australia’s big banks are at the coalface of the economy. Governments should be listening when they highlight the need for change.
- 1 min ago
- Nick Hossack
Yesterday
NSW clubs ‘acutely aware’ of money laundering laws
Lobby group ClubsNSW said its members had recently met with the financial crime watchdog to ensure they were complying with anti-money laundering laws.
- Ronald Mizen
- Exclusive
- Cash economy
Banks ramp up plans for cash disruption after Armaguard deal fails
One option being considered is for smaller cash couriers to step in if the monopoly money transport business owned by Lindsay Fox collapsed.
- James Eyers
- Exclusive
- Organised crime
AUSTRAC targets clubs’ pokies in $70b money laundering crackdown
New CEO Brendan Thomas says “massive” clubs that rival Sydney’s Star casino and host three in four of the states pokies pose a “significant risk”.
- Ronald Mizen
This Month
- Opinion
- Chanticleer
Meet the Australian running Citi’s new team of 6000 bankers
From running Credit Suisse and Citi in Australia, to being involved in the biggest reshuffle at Citi in 25 years, David Livingstone says he wouldn’t have it any other way.
- Updated
- Anthony Macdonald
March
Armaguard rescue deal collapses as Lindsay Fox opts to go alone
The monopoly cash-in-transit business had previously warned it was losing too much money to operate. Now it has assured the RBA it will continue its services.
- James Eyers and Patrick Durkin
Coles hoards cash over Easter as Armaguard teeters on the brink
The Lindsay Fox-controlled monopoly has engaged former ACTU secretary Bill Kelty to lead negotiations with major banks over a rescue package.
- James Eyers and Patrick Durkin
Westpac plots multibillion-dollar tech overhaul to fix decade lag
The project will unite more than a hundred separate systems that have bloated costs since the acquisition of St George during the global financial crisis.
- Lucas Baird
- Opinion
- Banking Summit
Five years after the royal commission, big banks have their mojo back
But the newfound assertiveness isn’t simply due to the fading of past humiliations. They are increasingly conscious their large size is now a huge asset.
- Karen Maley
- Opinion
- Banking Summit
Banks struggle to balance risk, reputation and regulation
Blowback over lending practices and perceived corporate greed means banks have become reluctant to take too many chances with their lending. But at what cost?
- Jennifer Hewett
Westpac and NAB back CBA, call for more scrutiny of Apple in payments
Authorities in the US allege the tech giant has locked the iPhone to build a monopoly. In Australia, banks say its digital wallet prevents competition.
- Jonathan Shapiro and James Eyers
- Opinion
- Chanticleer
The feeding frenzy that sent CBA shares to $120
Commonwealth Bank’s staggering $120 a share price came up a few times at The Australian Financial Review Banking Summit. Brian Johnson nailed why it had run so hard.
- Anthony Macdonald
- Exclusive
- Banking Summit
Last-minute lifeline to keep cash afloat
A short-term financial injection in the tens of millions of dollars has been offered to help Armaguard, the Lindsay Fox-owned cash transport firm, survive.
- James Eyers
A decade of Banking Summit front pages
Here’s how The Australian Financial Review told the story of a decade of momentous developments in banking and finance.
- Opinion
- Opinion
Business is a better home for bank lending than houses
A shift out of low-margin home lending would release a mountain of capital for Australian firms of the future.
- David Myers
CBA backs UK start-up improving screening for financial crime
Global Screening Services now counts CBA as a shareholder. It’s building standards for banks to check cross-border payments against sanctions lists.
- James Eyers
CBA’s business bank boss explains why ‘saffers’ can be good CEOs
Mike Vacy-Lyle says his South African upbringing has instilled a can-do attitude and the confidence to take on any competition.
- James Eyers
From scandals to Team Australia: a decade of the AFR Banking Summit
The Summit is in its 10th year. We’ve had a courtside seat to the drama as a tarnished sector recovered during COVID.
- James Eyers and Lucas Baird
Borrowers can cope with higher interest rates: RBA
Borrowers and businesses are defying gloomy predictions and are servicing their debts, giving the Reserve Bank more cover to fight inflation.
- Jonathan Shapiro and John Kehoe
NZ tries to break grip of big four across the Tasman
The New Zealand competition regulator has made draft recommendations including a RBNZ review of capital rules to give smaller banks an assist.
- James Eyers
