Analysts have been arguing for years that Commonwealth Bank is overvalued. Now Regal's Phil King has put his money where his mouth is and sold CBA short — not that investors seem to care.
Banking
Crypto, decentralised finance and digital asset tokenisation failed to make the list of the federal government's banking priorities, and rightly so. But Australia does risk falling behind other markets.
Carlos Cacho's departure follows a string of resignations by Jarden executives in recent weeks.
The big four may be sitting on billions of dollars in excess capital — which might help explain the surge in their share prices over the past year.
Official data don't support a BNPL growth story meanwhile investors - and BNPL providers - are increasingly looking beyond the specific, youth-oriented, product.
Small business is increasingly polarised between those struggling with costs and slow growth and those thriving and investing. For good credits, banks have sharp pencils.
The global wealth of the richest is growing and an increasing part of that growth is coming from private markets — equity and particularly credit.
The financial complaints authority and financial counsellors are seeing growing financial distress from BNPL and support tighter regulation.
Anti-fraud measures and workplace productivity are among the most immediate use cases for AI in financial services — but human intelligence remains central.
Most Australian homebuyers now use mortgage brokers. So banks are changing how they sell home loans.
Nearly two-thirds of new home loans come via mortgage brokers. The economics stack up, just not for bank margins.
Despite the struggles faced by pure play BNPL providers, the payment option looks like it will survive, boosted by popularity among younger people. But it's the established players who may benefit the most.
In the latest sign of big banks being more willing to partner with fintechs, CBA has teamed up with property platform Coposit to ease access to off-the-plan properties.
Investors drove WeMoney's new $3 million funding round and its founder says that reflects a view greater opportunities are emerging, amplified by better access to comparable data via the Consumer Data Right.
Some clarity around the chain of liabilities for Bonza's payments has emerged but consumers and payment service providers are still waiting for details on refunds.
Already under pressure from proposed regulation, the BNPL sector must now factor in a review of credit reporting requirements by another federal body.
Bull runs are by nature quixotic and the current one in bank stocks has no visible means of support. A very predictable earnings season has added little to the story.
Many are undoubtedly doing it tough in the face of cost-of-living pressures, but ANZ CEO Shayne Elliott says it's less likely to be those with mortgages than others who can't access finance from banks.
As the big four retreat from lending, GCI co-founder Gavin Solsky explains how money can be made by lending in places where banks won't go and when equity is too expensive.
Australia's banks are solid, with the economy resilient, bad debts under control and margin pressure easing. But investors are increasingly asking how these unexciting fundamentals support over-valued shares.
The bank's commitment to climate solutions remains intact despite a slowdown in the selling of green assets hitting its full-year result.
The bank delivered a solid half-year result a tad below consensus and emphasised continuity and discipline would be its hallmark under new CEO Andrew Irvine.
