Australia

Decrease in debts and boost in lending to position the lender in delivering solid results until the second half.

The result failed to beat analysts’ forecasts despite Australia’s resilience amid global economic downturn.

StanChart is among the lenders in talks with ING for the 12-year-old ING Direct unit with estimated value of $6.5bn.

The bank believes its campaign of offering to pay the exit fees for mortgage customers who desert its competitors is key in outpacing the market.

The lender mulls to spin off existing UK assets to JV as it woos NBNK and BBVA for partnership.

Bendigo Wealth delivers better consistency across the bank’s product range as it aligns its portfolio of wealth management services with those of its retail bank.

Former Deutsche Bank head to become executive general manager of trading, financial institution sales and research.

The proliferation of mobile devices and the growth in online tools and networks has been well documented, and the financial services industry has not been immune to this trend with an estimated 400 million people utilizing some form of mobile financial transaction within the next three years. Given this aggressive growth in digital financial services, l institutions that are embracing and shifting to digital channels for reasons of cost and better customer management must make security the centerpiece of any successful digital strategy.

As part of the Australian Government’s review of the taxation treatment of collective investment vehicles, the Board of Taxation has issued a comprehensive discussion paper for comment on how to enhance the competitiveness of the tax regime for Australian investment funds.

The company expects Michael Parsons and Anna McCreery to bring outstanding expertise in financial services and wealth management.

The lender said it has the lowest level of impaired assets among its peers as its watchlist and substandard loans declined.

Expects profit from non-Australia and New Zealand to rise by 30% as it aims to compete head-to-head with HSBC and StanChart.

The move is part of the lender’s wealth strategy of investing in real estate business.

The lender’s chairman denied reports of Kelly’s replacement as she vowed to lead customer-focused retail banking strategy.

Its collaboration with China Huarong Asset Management aims to focus on wealth management, insurance and rural lending.

The Dutch banker taps Australia’s rural banking market as it recruit staff for its expansion in the country.