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A shareholder group has taken aim at ANZ's directors after a troubled year for the bank. (Joel Carrett/AAP PHOTOS)

BankingPremiumANZ board won't follow CEO's lead and sacrifice fees

ANZ's chairman says its board has been doing its job, rejecting a suggestion from the Australian Shareholders Association that directors give back some pay.

Derek Rose

Paul O’Sullivan, chairman of ANZ Group Holdings Ltd, said he anticipated the disapproval.

BankingCommentsANZ receives second strike against executive pay

A third of ANZ shareholders have voted against its remuneration report, making it the first Big Four bank since Westpac in 2019 to suffer a second strike. New CEO Nuno Matos is forgoing short-term bonuses.

Stephen Johnson

ANZ chief executive Nuno Matos.

BankingPremiumSTRIKE TWO!: ANZ says more cuts option after failures

ANZ chairman Paul O’Sullivan says the bank’s board maintains the option to reduce bonuses further for executives amid growing discontent over accountability for past failings.

Adam Haigh

FCA say the Federal Government should prioritise raising the bankruptcy threshold to $20,000. NewsWire / Nicholas Eagar

newsPremiumPrivate schools turn to bankruptcy to chase fees

A shock new report has laid bare the companies chasing debts and pursuing bankruptcy.

Phoebe Griffiths

NAB is the second bank in as many days to face shareholder pressure over action on deforestation. (Darren England/AAP PHOTOS)

BankingPremium'Not ready': investors chop down deforestation action

National Australia Bank shareholders have rejected resolutions related to deforestation, but its chairman says he has concerns about the practice.

Derek Rose

Former ANZ CEO Shayne Elliot has launched legal action against the bank after his bonus was slashed.

BankingCommentsEx-ANZ boss launches legal action against bank for bonus cut

Former ANZ chief executive Shayne Elliott has launched legal action against the bank in what one former trader said means things ‘are getting farcical’ at the bank.

Tom Richardson

NAB profit edges higher as bad debts and tech costs bite.

FINANCECommentsThe crisis threatening Aussie living standards: Bank boss’ warning

National Australia Bank’s top boss has sounded the alarm on a major issue which will impact Australian living standards.

Cameron Micallef

Three of the big four closed higher on Thursday. NewsWire

MARKETS WRAPMining stocks lift ASX after US rate cut

Rising mining stocks powered the ASX’s performance on Thursday, despite the Australian sharemarket being unable to follow a strong lead-in from Wall Street.

Cameron Micallef

Westpac is under fire for dropping plans to cut lending to customers linked to deforestation. (Joel Carrett/AAP PHOTOS)

BankingCommentsPremium'Of no value': Westpac defends dumped deforestation pledge

Westpac's agricultural customers were clear. Its stand against deforestation is of no value, so the bank dropped plans for a forest protection policy.

Derek Rose

Westpac said it was aware of customers experiencing issues accessing its services.

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BankingComments
updated
Major Westpac outage that left customers in lurch resolved

Thousands of frustrated Westpac customers were unable to access their funds after a major outage affected the Big Four bank’s EFTPOS service on Wednesday.

Peta Rasdien

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BREAKINGMajor bank hit by EFTPOS outage

More than 3000 customers with major bank Westpac have been hit by an EFTPOS outage.

Alexandra Feiam

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MARKETS WRAPRBA’s grim rate warning drags ASX lower

The Australian sharemarket has plunged after the central bank chief delivered a shock warning to investors – leaving every sector in the red.

Cameron Micallef

A senior Ubank leader has left the digital bank after a ‘highly disturbing’ incident at a Christmas party involving a junior colleague.

BusinessBanking exec ‘unseen’ since ‘disturbing image’ at Xmas party

A senior Ubank leader has left the digital bank after a ‘highly disturbing’ incident at a Christmas party involving a junior colleague.

Kimberley Braddish

Bank of Queensland has defended its decision to seek out deep external technological expertise. (Dan Peled/AAP PHOTOS)

BankingPremiumRegional bank warns 'we are living in a time of change'

A bank board has faced shareholder questions about its decision to bring in a technology solutions partner, amid widespread change in the finance sector.

Staff Writers

An Australian bank has labelled the findings from an investigation into its operations “very disappointing”. NewsWire / Nicholas Eagar

NEWSPremium'Disappointed': Bank flags laundering failures

An Australian bank has been found to have failed in key aspects of anti-money-laundering and counter terrorism management.

Cameron Micallef

Mortgage house in a trap on wooden table background. House trap on debt or loan problem or risk in real estate property financing concept.

BankingCommentsWhy it’s going to be harder to get a home loan in 2026

The banking regulator says the new rules are designed to rein in a surge in lending to investment property landlords and help maintain financial stability.

Tom Richardson

Australia’s banking regulator tightened rules on bank lending for mortgages.

BankingCommentsPremiumAPRA tightens rules on bank lending for mortgages

Australia’s banking regulator tightened rules on bank lending for mortgages.

Adam Haigh

Deloitte identified weaknesses in money laundering and counter-terrorism financing risk management. (Albert Perez/AAP PHOTOS)

BankingPremiumBendigo Bank admits poor money-laundering controls

Bendigo and Adelaide Bank's board says it is committed to fixing the inadequacies cited in a Deloitte report and is engaging with regulators.

Derek Rose

Andrew Irvine, the CEO of NAB, said gas should play a key role in the energy transition.

BankingCommentsNAB boss backs gas for green energy transition

Andrew Irvine said gas should play a key role in the energy transition and joined Westpac’s boss in attacking social media giant Meta for allowing huge amounts of financial scams on Facebook.

Tom Richardson

Nuno Matos the CEO of ANZ Bank said it was right that current and former leadership including himself gave up $33.4 million in bonuses.

BusinessCommentsANZ boss warns rushed clean energy push ‘could kill patient’

ANZ’s new chief executive Nuno Matos says the commitment to deliver more clean energy needs to be balanced otherwise the ‘medicine could kill the patient’.

Tom Richardson

Mr Irvine says Australia should be an energy superpower. NewsWire/Tertius Pickard

UPDATED‘Impunity’: Bank slams social media giants

A second big bank chief executive has called out giant US technology businesses for an ‘economically problematic’ issue.

Cameron Micallef

"Australia should be an energy superpower," National Australia Bank's CEO has told an inquiry. (Lukas Coch/AAP PHOTOS)

BankingPremium'Sad': bank boss blasts Australia's energy transition

The boss of one of Australia's biggest banks has excoriated the debate around net zero, saying power bills could be heavily reduced if renewables are harnessed.

Zac de Silva and Grace Crivellaro

Westpac’s chief executive Anthony Miller slammed Meta over scams and illegal sales.

BankingCommentsWestpac slams Meta for scams, illegal bank account sales

The bank’s CEO has called on lawmakers to toughen up on Meta’s practice of profiting from scam ads and allowing the illegal trade in bank accounts.

Tom Richardson

Mr Miller said Westpac had addressed underpaying staff. NewsWire / Martin Ollman

UPDATEDPremiumMajor bank’s huge call on house prices

In an extraordinary exchange, Westpac’s boss has insisted the bank doesn't necessarily make more money when Australians take out bigger mortgages.

Cameron Micallef