Westpac shareholders must make a couple of important calls

In the wake of the Westpac money laundering scandal, investors have some decisions to make. They are being given the choice of opting out of a share purchase plan and they may want to vote on the company’s remuneration report…

How to find an ethical bank

Following news of Westpac’s failure to manage risks associated with the processing of cross-border payments, consumers are once again asking where they can find an ethical bank. The two best sources for consumer guidance are the Responsible Investment Association Australasia…

Lengthy mortgage processes a thing of the past

Australians who are fed up with long mortgage approval times may have their problem solved with digital banking solutions. Last week neobank 86 400 launched its digital mortgage offering with the application process done entirely through its smartphone app. The…

Big bank dividend party is over

Australia’s big banks have “reset” their dividends, cutting their payout ratios to more sustainable levels as they face a weak outlook and demands from regulators for more capital. While their dividend yields still look attractive, there is little prospect that…

Big bank results: revenue, margins, dividends under pressure

Revenue trends among the big banks reporting their half-year results over the coming week will be weak, according to one analyst’s preview of the results. And NAB will cut its dividend. Macquarie Securities expects all three of the banks –…

Just who is Westpac’s financial advice partner, Viridian?

Westpac’s big announcement last week that it is getting out of personal financial advice brought its referral partner Viridian Financial Group, a name that not many investors had heard of, into the limelight for the first time. The bank is…

Dividend outlook positive, despite AMP cut

With AMP announcing last week that it would slash its final dividend from 14.5 cents a share this time last year to just 4 cents a share, partly due to remediation costs flowing from the Royal Commission, investors are wondering…

Soft bank revenue trend to continue

The key features of the big banks’ 2017/18 results were soft revenue trends, particularly in their retail banking divisions, offset by low impairment charges and stronger capital positions. The outlook is for more of the same. In its review of…

CBA pulls out of SMSF lending

Commonwealth Bank has followed Westpac out of the self-managed super funds loan market, saying the decision is part of a move to streamline its product range. Comparison site RateCity reports that CBA told it that from October 12 it would…

What Westpac’s responsible lending breach means for borrowers

Home loan applicants have experienced tighter loan serviceability tests over the past couple of years, but things could get even tighter in the wake of Westpac’s big fine for its breach of responsible lending obligations. Lenders are adjusting their income…