Australia's major banks are under mounting pressure today, with a draft report from the Productivity Commission raising doubts about competition levels as regulators apply more scrutiny to three of the 'big four'.
Bankwest has recorded a $339 million net profit for the first half of the financial year, fuelled by solid income growth and flat expenses, along with lower loan impairments compared to 2016.
Commonwealth Bank has turned down the chance to signal a fresh start at the scandal-hit lender, instead promoting insider Matt Comyn to "rebuild trust" as its new chief executive.
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 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.
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 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.
Commonwealth Bank of Australia has suggested that 53,000 alleged breaches of money laundering laws listed in a case brought against it by regulators could be treated as a single matter because they all stemmed from the same IT error.
Big banks have warned that customers and shareholders will carry the cost of the federal government's surprise $6.2 billion levy on Australia's largest financial institutions.
Commonwealth Bank of Australia is lifting some of its mortgage rates as it tries to rein in stubbornly high investor lending growth and keep on the right side of the regulator.
Commonwealth Bank of Australia boss Ian Narev would be the first to admit his bank could improve in some areas, but he has told a parliamentary committee the bank was doing better at listening to customers and was committed to efficient redress.
New Reserve Bank governor Philip Lowe kept a steady hand at the tiller using his first monthly board meeting to leave the cash rate at record low 1.5 per cent.
Commonwealth Bank of Australia chief executive Ian Narev took home $12.3 million in total pay in the last financial year, up more than 50 per cent due to performance-related share bonuses.
Commonwealth Bank of Australia chief executive Ian Narev has cited weak wages growth and political uncertainty as threats to Australia's economy, even as the country's biggest bank unveiled a seventh straight record profit of $9.45 billion.
Commonwealth Bank of Australia has lifted first half cash profit 3.92 per cent to a record $4.804 billion, but has decided against increasing its interim dividend.
The Western Australian CEO Sleepout has raised $700,000 and counting after a successful 2012 event which culminated in 106 CEOs staying at the WA Cricket Association ground last night.
