Westpac’s profits climbed to $1.8 billion in the June quarter,chief executive Peter King revealed,as he noted many businesses were seeing lower demand for their goods as the cost-of-living pressure bites.
In a bid to foil impersonators,Westpac customers will receive calls via their app that are branded,verified by Optus and show a reason for the call. But will it make a difference?
Children as young as eight are being offered a physical debt card in an effort by Westpac to improve their financial literacy.
Six years after the royal commission,there are signs of a re-emergence of poor behaviour. At the very least this looks like conduct slippage.
Banking giants have plans for artificial intelligence that go much further than the often clunky chatbots used to answer customer queries.
As the number of customers falling behind on their repayments rises,the watchdog says too many people in hardship are finding it hard to get help.
Westpac boss Peter King says the economy is on track for a soft landing,even as customer stress has ticked up,and the bank posted a drop in profits.
Despite continued pressure on bank profit margins,analysts expect the big four to post relatively resilient earnings over the next two weeks.
Experts warn scammers are targeting victims through drawn-out investment and romance scams – and say social media platforms to step up prevention.
Bank margins will continue to dwindle in the first half of this financial year,analysts say,as customers move their savings into higher-interest offerings.
The bosses of major banks have backed calls for federal elections to be held every four years instead of three to provide more certainty for business.