Big four
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
Latest
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
Household bank deposits drop $7.7b, in first decline in two years
The latest figures from the banking regulator suggest households may at last be feeling the pinch from rising rates as RBA mulls the next move in its fight against inflation.
- by Millie Muroi and Clancy Yeates
Big four banks hike fixed rates as funding costs rise
An increase in funding costs has led to banks raising their fixed rates as they walk away from the ultra-competitive rates offered during the pandemic.
- by Millie Muroi
Commonwealth Bank to cut 250 jobs, says Finance Sector Union
The Commonwealth Bank already cut more than 200 jobs two months ago, at a time when its bottom line is benefiting from rising interest rates and low bad debts.
- by Clancy Yeates
Analysis
Interest rates
Banks paying savers a pittance despite record rate rises
Dozens of “saver” accounts, including some offered by major banks, are paying customers a pittance in interest despite a record run in rate rises.
- by John Collett
Opinion
Big four consultants
Big four consultants inquiry brings back ghosts of banking royal commission
It’s hard to imagine others in the industry don’t have skeletons that they would rather keep buried.
- by Elizabeth Knight
Opinion
Home loans
Just in time, lenders are freeing borrowers from ‘mortgage prison’
Big banks and other lenders are, thankfully, rethinking their mortgage “stress tests” that left refinancers trapped.
- by Nicole Pedersen-McKinnon
CBA’s Matt Comyn warns full rate-rise hit yet to come
The head of the banking giant says there will be more pressure on households over the next six months, as past rate rises flow through to customers accounts.
- by Clancy Yeates
NAB, ANZ see few signs of mortgage stress despite rate rises
The bosses of ANZ Bank and NAB say they are yet to see a big lift financial stress among their mortgage customers, despite the worsening economy.
- by Millie Muroi