Australia
National Australia Bank appoints Andrew Irvine as new group CEO
He will also become NAB’s managing director, beginning 2 April.
National Australia Bank appoints Andrew Irvine as new group CEO
He will also become NAB’s managing director, beginning 2 April.
Citi names Cristina Chang as head of markets for Australia, New Zealand
Chang will retain her role as head of asset backed financing.
MUFG purchases 100% stake in Australian holding group
The acquisition is valued at AU$1.1b.
APRA updates banking standards to manage interest rate risk more effectively
The updates aim to reduce volatility in the IRRBB capital charge, enhance incentives for risk management, and simplify the IRRBB framework.
Australia to amend retail payments regulation in 2024: governor
Reforms will include better cost transparency from BNPL, mobile wallets.
APRA keeps current macroprudential policy settings
Cost-of-living, the economic outlook, labour market, and borrowing cost were factors considered.
DBS provides S$180m green loan to refinance Melbourne office tower
The 17-level building in Collins Street is wholly owned by public sector pension fund KWAP.
Commonwealth Bank of Australia exploring GenAI use to test products
They are exploring the creation of GenAI chatbots that emulate human behaviors.
APRA notes declining deposit-taking branches, waits for senate inquiry to closures
Branch numbers have been declining by 37% since 2017.
ANZ pays A$15m fine for excessive credit card advance fees
ANZ reportedly breached the ASIC Act and the National Consumer Credit Protection Act.
Australia looking to tap potential of AT1 bonds
This exploration will alleviate any potential risks that may dawn the banking sector.
Australia’s Zip teams up with Primer to accelerate US expansion
Primer is expected to help drive distribution of Zip’s BNPL services in the market.
ASIC to take PayPal to court for unreasonable term in SME contracts: Report
The regulator sees it unfair for PayPal to put a penalty over its own overcharging errors.
Consolidation in the cards for Australia’s mutual lenders
Mutuals should scale back branch operations and invest in tech.
Chart of the Week: 1 in 3 online transaction in Australia use alt payments
The e-commerce market will be worth $51b in 2023, according to GlobalData.
Australia unveils new standards for banks, insurers’ operational risk management
The new standard will take effect on 1 July 2025.
Australia's Zip cuts 20% of workforce: report
The CEO did not confirm whether the company is downsizing its workforce.
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