Business
Banking & finance
AMP to cut costs, keep capital ahead of legal verdict
Alexis George, who has led the simplification of AMP since 2021, said she would pause its capital return plan given uncertainty around legal matters.
- by Millie Muroi
Latest
Alarm sounds on insurance as Australia’s natural disaster risk surges
Global giants that play a key role in the insurance market are viewing Australia and New Zealand as riskier markets – and this is feeding into higher premiums.
- by Clancy Yeates
Opinion
Private banking
Despite 10 billion reasons to hate the banks, it’s not that simple
In these times of ‘greedflation’, businesses like the CBA have too much power to push up prices. But wages growth will outpace prices in the years ahead. You can bank on it.
- by Chris Richardson
Updated
Earnings season
Investors wary on CBA margins after record $10.2b profit
The country’s largest bank posted a record profit, but investors said the bank’s margins could be squeezed by stiff mortgage competition in the coming months.
- by Millie Muroi
CBA defends profits amid signs of increasing financial stress
The country’s biggest bank said it was important for banks to be generating profits so they could support the economy through a period of economic weakness.
- by Millie Muroi
Suncorp flags more premium hikes as reinsurance costs bite
The insurer says premiums for car and home insurance have been increasing at double-digit rates, and prices will continue to rise.
- by Clancy Yeates
Opinion
Earnings season
What keeps CBA’s boss awake at night? It isn’t stressed borrowers
Any board that ticks off a share buyback and a higher dividend payout ratio is sending a message that it is not concerned about the strength of its franchise.
- by Elizabeth Knight
The $10.4 million man: CBA chief gets a rich reward
CBA chief Matt Comyn and other executives at the country’s largest bank have seen their pay packets soar as a result of long-term bonus schemes.
- by Clancy Yeates
Reworked ANZ-Suncorp deal could help it get across the line
ANZ may have to tweak its deal to improve the chances of getting the $4.9 million planned purchase of Suncorp’s banking assets through on appeal, investors have said.
- by Millie Muroi
CBA results a litmus test on mortgage pressures as record profits tipped
The bank’s full-year results will give an insight into the state of the economy, bad debts and pressures on banking sector profit margins.
- by Millie Muroi
Mortgage pain is set to get worse. Here’s how banks are getting ready for it
Banks have signalled they will support customers struggling with higher interest rates – but it won’t be the same as COVID-19 rescue packages.
- by Clancy Yeates and Millie Muroi