Financial Services

Citibank will refund customers more than $4.3 million after failing to give back outstanding credit card balances, and providing misleading statements about unauthorised transactions.

The federal government has announced it will adopt a host of Senate committee recommendations aimed at improving mutual and cooperative firms' ability to raise capital.

The Australian Securities and Investments Commission has banned a former Perth-based financial adviser from providing financial services for 10 years, while an ex-Commonwealth Bank financial planne

Former stockbroker Lewis Fellowes has been sentenced to three years' imprisonment after pleading guilty to three dishonesty charges, but has been spared prison time after entering into a $30,000, five-year good behaviour bond.

Westpac has lifted its full-year profit 3 per cent to $8.062 billion, boosted by 6 per cent growth in Australian mortgages.

National Australia Bank will cut 4,000 jobs over the next three years even though it lifted full-year cash profit 2.5 per cent to $6.6 billion.

Macquarie Group's board has approved an on-market buyback of up to $1 billion after posting a first-half profit of $1.25 billion.

ANZ Banking Group chief executive Shayne Elliott says the lender is watching its mortgage book "like a hawk" for signs of stress as households rack up record debt to meet rising house prices.

National Australia Bank chief executive Andrew Thorburn insists the bank lifted interest-only mortgage rates to meet regulatory requirements, not to make more money.

Westpac is refunding about $65 million to 200,000 customers who did not receive discounts on insurance and other products to which they were entitled.

ANZ Banking Group will sell its superannuation and some financial planning businesses to financial services group IOOF for $975 million as it continues to weigh how best to offload life insurance.

ASX-listed financial institution Goldfields Money has received a takeover offer from its largest shareholder, which values the target at about $25 million.

Bank of Queensland has lifted its full-year cash profit 5 per cent to $378 million, delivering shareholders a surprise special dividend on stronger second-half lending growth.

Bankwest has launched an initiative in Western Australia aimed at building stronger networks with the Asian community in Perth.

OPINION: With a touch of irony, the central bank governor fires a warning shot in mortgage-stressed WA that rates will rise.

Federal Court proceedings have been issued in the shareholder class action against Commonwealth Bank of Australia, which is being funded by Perth-based IMF Bentham.

Commonwealth Bank of Australia has sold its trans-Tasman life insurance businesses, CommInsure Life and Sovereign Assurance, for $A3.8 billion ($4.15 billion) to global insurer AIA Group.

Gascoyne Resources has mandated two of Australia's largest banks to arrange a $60 million debt facility for the development of its Dalgaranga gold project in the Murchison region.

Australia's financial sector regulator has appointed three panel members to inquire into the Commonwealth Bank of Australia's governance, culture and accountability.

The Reserve Bank of Australia has kept the official cash rate on hold at 1.5 per cent and repeated its concern that an appreciating Australian dollar could slow economic growth.

IMF Bentham has confirmed it will fund a Federal Court open class action against the Commonwealth Bank relating to allegations the lender breached anti-money laundering and counter-terrorism funding laws.

AUSTRAC's civil penalty proceedings against Commonwealth Bank of Australia won't appear in the Federal Court until April next year.

Commonwealth Bank of Australia will face an inquiry by the prudential regulator after a series of issues at the country's largest bank prompted concerns about its governance, culture and accountability.

The state's first early stage venture capital limited partnership is one of three funds announced by Western Australian money managers this year, and one of two in a joint project by Cottesloe-based View Street Partners and Nedlands-based Mac Equity.

One of the state's most experienced financial services leaders, John Van Der Wielen says the opportunity to put something back into the community was one factor motivating his move to HBF.

ANZ Banking Group has reported a third-quarter cash profit of $1.79 billion, helped by strong growth in owner-occupier mortgage lending.

Commonwealth Bank of Australia chief executive Ian Narev will step down by the end of June after Australia's largest bank decided to deal with speculation over his position following allegations the lender breached money laundering and terrorism-financing laws.

National Australia Bank's mortgage rate hikes have helped the lender lift third-quarter cash profit 5 per cent to $1.7 billion.

Commonwealth Bank of Australia is being investigated by the corporate regulator over its alleged breach of money laundering and terrorism financing laws.

Commonwealth Bank of Australia has reported an increase in cash profit to $9.8 billion for the 2017 financial year, while its Perth-based subsidiary, Bankwest, delivered a fall in profit as a result of increased home loan impairments.

Commonwealth Bank of Australia says it is buying the remaining 20 per cent stake of Aussie Homes Loans from founder John Symond.

Commonwealth Bank of Australia executives, including CEO Ian Narev, will be hit in the pocket over the bank's more than 53,000 alleged breaches of anti-money laundering and counter-terrorism financing laws.