#Westpac
Westpac H1 profit falls 22% to $3.296b
Westpac chief executive Brian Hartzer says the bank’s first-half results are disappointing. Westpac has held its interim dividend despite the cost of refunding customers helping drag down first-half profit by 22 per cent to $3.296 billion. Australia’s second largest bank set aside $617 million to cover refunds and associated costs following the financial services royal […]
3 tips to help small businesses grow revenue in 2019
As the end of year draws closer, it brings a great opportunity for small business owners to take time to reflect and plan for the year ahead. The Westpac Small Business Report in collaboration with Deloitte found that small businesses have grown modestly in revenue terms relative to this time last year. While some are […]
Labor calls for faster drought aid for farmers
The opposition calls for faster aid to help farmers.
Changes on the horizon for SME’s but will they deliver much-needed reprieve?
How will these changes affect small business?
Chaotic, rewarding hyper-growth: zipMoney’s Larry Diamond on the fintech startup’s success
Any way you slice it, 2017 has been a blockbuster year for zipMoney. The Sydney-based fintech startup – a provider of point-of-sale credit and digital payment services – has been onboarding around 1200 new customers per day, with CEO Larry Diamond attributing this growth to traction with millennials. Significantly, Zip landed the two largest fintech deals […]
Slingshot’s new platform to enable startups to collaborate with the biggest businesses
Thursday, 25 May 2017 Source: Slingshot More than two dozen leading businesses including Westpac, Woolworths, Optus, Australia Post, EnergyAustralia, and Lendlease have signed on as founding members of CoVentured, a new platform created by Slingshot to connect corporate Australia with the growing community of Startups and Scaleups. Using strong search and filter functionalities, CoVentured will […]
Westpac invests $16.5 in fintech start-up uno
Westpac has invested $16.5 million in uno Home Loans, a Sydney-based digital mortgage service that has attracted a number of investors since launching in May. According to uno CEO and founder, Vincent Turner, the platform (pronounced ‘you know’) was established to give people “greater control over the home loan process and the confidence to achieve […]
Consumer confidence drops, petrol prices cited
Consumer sentiment dropped by 3.2 per cent during April, hitting 96.2 per cent from the 99.5 registered in March.
Christmas consumer sentiment slump
Consumer sentiment has experienced its longest run of pessimism since the Global Financial Crisis and, before that, the early 1990s recession, according to the Westpac monthly sentiment index.
Mobile technology empowering women to manage their own money
According to The Westpac Women and Technology Report, women are three times more likely than their male peers to use a smartphone to do their online banking.
What can the big four offer your business?
All the big banks say they’re the best for small business, but they also all want a piece of this large part of the market. To cut through the confusion, here’s an in-depth look at what each bank claims to have to offer SMBs.
Consumer sentiment falls as rates concerns rise
Consumer confidence fell by five percent in March, as Australians worry about rising interest rates and falling employment levels.
Consumer confidence bounces back
Businesses have welcomed news of a surprise jump in consumer sentiment, as the number of optimists outweighs the number of pessimists for the first time in some months.
Westpac to slash up to 400 jobs
Westpac will cut around 400 jobs from its head office, technology and operations teams this year, to compensate for a slow down in loan growth.
Rate cuts make no difference to business bank satisfaction
Businesses are no more satisfied with the major banks now than they were in October, despite two interest rate cuts in November and December.
Consumer sentiment recovers only slightly, despite rate cuts
Two consecutive interest rate cuts have failed to boost post-Christmas consumer sentiment, a result economists have called “disappointing.” But slowing inflation means businesses may benefit from more rate cuts in the months to come.
Major banks gaining satisfaction over rivals
The four major banks are closing the gap in business satisfaction against smaller rivals. Satisfaction with the Big Four climbed to a new record high in November, continuing a trend seen throughout 2011, according to the DBM Consultants Business Financial Services Monitor.
Sydney banks voted better than Melbourne’s
New financial research has shown Australians are more satisfied with Sydney-based banks than Melbourne-based ones.
Rate cuts bump up consumer sentiment
Consumer sentiment has jumped 6.3 percent this month, thanks largely to the Reserve Bank’s decision to cut interest rates.
RBA cuts rates in time for Christmas, banks follow suit
The Reserve Bank of Australia (RBA) cut interest rates by 25 basis points yesterday, taking the cash rate down to 4.5 percent in time for the all important Christmas season.
Bank satisfaction slides
Business customers have showed the highest level of dissatisfaction with their banks since the end of last year, with NAB and ANZ customers reporting they’re least happy with their banks.
Sliding demand noted for business banking products
Demand for business banking products has dropped significantly over the past four months, with commercial banks including the Big Four local providers as well as regional and international banks all reporting a downturn in demand.
Consumers fail to be upset by banks’ interest rate gouge
Consumers remain positive despite successive interest rate increased from the Reserve Bank of Australia and increases in home loan lending rates above and beyond the RBA in November by all major banks.
Aussie dollar breaks US96c mark – and rising
The Australian dollar is trading at a two year high against the US dollar, hitting US96.08c during early trade this morning.