Australia
13.36 million credit cards in circulation in Australia: study
13.36 million credit cards in circulation in Australia: study
Credit cards contributed about AU$18.6b in national debt due to accrued interest.
Australian banks face elevated risk of credit losses: S&P
Whilst losses are projected to remain low, a sudden price drop in the housing market spell trouble for banks.
Improved mortgages to support ANZ’s earnings over the next two years
Net interest margin improved 7bps in the six months ending 31 March 2023.
Australia’s Macquarie Bank’s earnings to rise by retail banking business: S&P
The bank’s parent company will also enjoy income growth from outside Australia.
Australia-based CoinJar lays foot on US grounds
The CEO remains confident despite regulatory risks.
Citi Securities Services has been appointed by Mason Stevens to provide custody services.
The appointment follows Mason Stevens’ expansion plans.
Australia's Airwallex sets foot in Canada, targets to expand in the Americas
Canadian businesses can create payouts to 150 countries.
Australia, New Zealand’s banks face higher costs, weaker profits in H2 2023
Overall performance will be broadly similar to 2022, according to S&P Global Ratings
Cambodia inks MOUs with Solomon Islands, Fiji for payments innovation
The MOU will see the three countries cooperate in financial innovation.
US, Europe banking fiascos have little effect on Australian banks: analyst
They have different business models from banks in US and Europe.
Stable outlook for Australia’s Defence Bank: Moody’s
Asset quality pressures will remain contained.
Australia’s Alex Bank raising $20m
The bank’s lending strategy focuses on the consumer finance market.
Australia’s mortgage arrears to rise as interest rates erode borrowers’ savings
Many lenders have seen a sharp rise in prepayment rates.
Judo Bank's rapid growth to continue despite inflation, competition
Competition and higher cost of funding are likely to curtail some margin benefit, says S&P.
High interest, lower demand to temper Bendigo and Adelaide Bank’s loan growth
BEN saw its loan growth contract 1.1% in H2 2022.
Weekly Global News Wrap: JPMorgan expects 20% revenue drop in Q1; CBA reports record profits
And Apple may look into into customers’ spending history, device ownership for BNPL services
Commonwealth Bank of Australia’s earnings to remain robust over next 2 years: S&P
Housing risks lessen as local house prices continue its correction.
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