Tag: Australian Banking

  • ABA Urges Extension of SME Loan Exemption Until 2026

    The Australian Banking Association (ABA) has formally requested an extension of the current exemption for small business loans, seeking to extend it by another two years until October 3, 2026. Additionally, the ABA has urged the Treasury to consider making the exemption permanent to provide long-term certainty and reduce regulatory barriers for small and medium-sized…

  • Majority of CBA Home Loans Now Come Through Direct Channels

    The Commonwealth Bank of Australia (CBA) has reported a continued decline in broker-originated mortgage flows, with its proprietary channel now accounting for about 66% of its new mortgage business. In its full-year results for the financial year ending June 2024, the bank had grown its mortgage book by a significant $12 billion, a 2% increase…

  • NAB Reports Increase in Mortgage Delinquencies Among Customers

    National Australia Bank (NAB) reported a 6% decline in cash profits to $1.75 billion for the June quarter, reflecting its customers’ growing challenges amid rising living costs and high interest rates. This decline in cash profits has impacted NAB’s ability to invest in new ventures and maintain its current operations. NAB’s CEO, Andrew Irvine, who…