National Australia Bank posted a 2.3% increase in cash profit, meeting expectations. A deep dive into its earnings chart pack shows the grind Australian banks face amid increased regulatory oversight and the simmering housing market. These 5 charts selected from NAB’s investor presentation give you a ringside view of what […]
Sydney home values remained unchanged in April, adding to a string of a data that points to a slowdown in property prices in the Australia’s largest city. The April results mark the weakest monthly change in dwelling values in Sydney since December 2015 had a 1.2% fall, data from research […]
Australia’s banking regulator likened itself to a historical figure in declaring property prices are well beyond its control. “Whether prices go up or go down, we are, like King Canute, unable to hold back the tide,” Wayne Byres, the chairman of the Australian Prudential Regulation Authority said in a speech […]
Investors are back in force and driving up the housing market, prompting calls for regulatory action to curb the speculation. Deutsche Bank, CoreLogic and economists at Commonwealth Bank of Australia say soaring home prices and investor loan demand outpacing that of owner-occupiers may justify some regulatory changes. The debate over […]
Monthly Australian investor mortgage growth slowed for the first time in almost a year after banks raised interest rates to rein in speculators. Outstanding loans for investment housing grew by 0.6% in January, down from December’s 0.8% climb, according to data from the Reserve Bank of Australia. That was the […]
Commonwealth Bank of Australia, the nation’s largest lender, is expected to report an all-time high half yearly cash profit of $4.83 billion on February 15. Still, that will be up just 1% from the $4.8 billion reported a year earlier. Cash profit excludes one-off items. Profits are expected to be […]
Westpac and National Australia Bank are Deutsche Banks’s top picks in the Australian banking sector with total returns on the two stocks expected to run in the teens in 2017. Westpac is well positioned, with strong market share in high returning segments such as mortgages, plus a focus on cost […]
Treasury Secretary-designate Steven Mnuchin...
Two of Australia’s major banks – NAB and ANZ – this month increased a range of fixed home loan rates by as much as 0.6%. The central bank cash rate, meanwhile, has stood pat at a record low of 1.5% since August, and economists remain divided on which way the […]
The Commonwealth Bank of Australia and its key competitors, which together raised record amounts of capital in 2015, face a combined $6.1 billion shortfall and may need to sell more shares as early as this year. Three of the four largest lenders –Commonwealth Bank, National Australia Bank Ltd., and Westpac […]
The new CEO of the Financial Conduct Authority...