Australia
CBA says RBA interchange reforms risk hurting Aussie firms
CBA says RBA interchange reforms risk hurting Aussie firms
The Australian bank agreed that debit and credit surcharging should be eliminated.
CBA’s x15ventures teams up with fintech fund Triple Bubble
They will develop a mentorship and talent exchange program.
NAB boards mourns passing of former director David Armstrong
Armstrong was with NAB from 2014-2023.
ANZ sets up resolution program, to submit remediation plan
ANZ could spend approximately A$150m on implementing the remediation plan.
Chart of the Week: Debit card fuel growth of Australia’s card payments market
Australians are choosing to spend within their means instead of accruing debt.
RBA sets out plan to make payments system ‘anti-fragile’
It has also warned that delays in encryption and contingency plans risk fraud and disruption.
ASIC eases disclosure rules on deposit rates for banks
The relief is extended until 1 October 2030.
ANZ fined $240m for incorrect trading reporting and misconduct
This is the largest ever announced by ASIC against one entity.
ANZ’s CRO Kevin Corbally to step down
He will serve as the Managing Director of Capital Management of the bank’s Institutional Division.
Australia extends relief on appointing deposit and insurance distributors
The exemption has been extended until 27 August 2030.
Stripe Capital to launch in Australia
Over 1 million users in the ANZ region now run on Stripe, the company said.
ANZ’s Markets MD Anshul Sidher departs from the bank
Michael Peric and Trevor Vail have been tasked to temporarily lead the markets business.
ANZ to lay off 3,500 staff, reduce services contractors engagement
It expects a restructuring charge of $560m before tax in H2 2025.
NAB names Kanishka Raja as CEO of Ubank
Raja has held leadership roles in Ubank for the past four years.
RACQ Bank insulated from parent group stress after insurance unit sale
There are also no intra-group deposits or loans between RACQ Bank and the RACQ Group.
Australia’s Westpac to hire 350 bankers by 2027: report
It aims to enhance business banking and expand its market share in regional Australia.
Societe Generale Securities fined $2.53m for 33 market gatekeeper failures
Each order was placed within the last two minutes before market close, ASIC said.
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