Financial Services

Liquidators for Forex Capital Trading released their investigation report, finding that the company’s former customers have incurred a loss of at least $77.5 million.

Macquarie Group's full-year profit has surged 56 per cent to $4.71 billion, but the group will maintain a conservative approach in FY22.

National Australia Bank's first-half cash profit has risen 4.1 per cent and the lender has also lifted its interim dividend to 73 cents a share.

Euroz Hartleys has discontinued its lawsuit against four former employees it claimed had stolen confidential data before moving to competitor Canaccord Genuity.

Fixed pay bands across PwC Australia for the next financial year have been released, showing how partners are able to accumulate millions per year.

Poynton Stavrianou has laid claim to being Perth’s largest fully-independent investment bank after appointing a new director and reporting growth in its operations.

Perth broker Euroz Hartleys has promoted its head of institutional sales Tim Bunney to managing director, replacing Rob Black.

The Commonwealth Bank has won a $100 million contract to provide banking services to the state government for at least three years.

Perth-based financial advisory firm PMM Group has mounted a $2.8 million legal claim against the company of Perth businessman Rodney Charles Carter over an alleged share sale gone wrong.

Pioneer Credit has successfully raised $11.4 million to fund the purchase of what it is labeling a high-quality debt portfolio.

Privately-owned Perth tech company VGW Holdings has continued its spectacular growth, reporting a 63 per cent surge in revenue and a half-year profit of $308 million.

Cash Converters has booked stronger revenues for the half-year despite losing a quarter of its trading days to the pandemic, but a revaluation of its stores has hindered the Perth-founded franchise's bottom line.

Bankwest has told staff it plans a major shift in strategy, with its entire business banking operation to be shifted to parent company Commonwealth Bank.

Wealth manager AMP says that it has received interest from outside suitors in its AMP Capital business, as it handed down a full-year net loss.

CBA has flagged an additional $2 billion share buyback after first-half profit jumped 26 per cent to $4.7 billion.

Australia and New Zealand Banking Group has flagged softer revenue and lower margins in the December quarter amid tough competition in the home loans market.

Westpac is seeking to cut about 20 per cent of its head office jobs as an increasingly competitive operating environment prompts the bank to bring forward cost-saving efforts.

Euroz Hartleys Group has reported a $22.9 million net profit for the six months to December 2021, below the bumper result it achieved in the previous six months.

Australia’s central bank will end its bond buying program but will have a slow approach to increasing interest rates from record low levels.

The corporate watchdog has barred Ananda Kathiravelu from providing financial services over a market manipulation scheme that almost landed him behind bars.

A Supreme Court ruling has detailed the bitter falling out between the two founders of insurance broker Reliance Group and their key backer, Jon Fogarty.

The state government’s superannuation board is outsourcing some of its services to Melbourne-based Frontier Advisors, having awarded the firm a $12.2 million contract.

Perth broking firm Euroz Hartleys Group is set to merge two of its investment companies with fellow ASX-lister and Geoff Wilson-led WAM Capital.

With multiple changes at the top of WA’s leading investor relations firms, we review their performance and strategies.

Perth-based digital bank BNK is selling its mortgage aggregator business to MA Financial Group for $151.6 million in cash, three months after starting a strategic review.

ANZ Bank has agreed to a $25 million fine for failing to give customers their entitled benefits such as rate discounts across about 580,447 accounts.

Shares in Perth-based debt recovery business Pioneer Credit received a boost on the news its customer performing arrangements had surpassed $400 million.

Two Perth business people from very different backgrounds – fast food and corporate communications – have teamed up to establish a joint family office and private equity venture.

WA mortgage broker Australian Finance Group is set to pay up to $70 million for asset finance aggregator Fintelligence, adding another 285 brokers and $1.1 billion in projected settlements to its books.

National Australia Bank has posted a nearly 80 per cent rise in full-year earnings thanks to gains in the home loans market and a steady performance at its business banking unit.

Search funds are widely used internationally, supporting young entrepreneurs to buy established businesses.

ANZ has posted a sharp lift in full-year profit despite underperformance in its home loans business, thanks to a robust lending market and reversal of some COVID-related provisions.