Australia’s largest bank, Commonwealth Bank of Australia (CBA), announced today that it is raising the rate on its Wealth Package home loan for new customers with substantial deposits. This move is the bank’s fourth rate increase for new customers in the past three months, in addition to the standard hikes by the Reserve Bank of […]
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ANZ passes on interest rate increase then announces $3.8 Billion profit
ANZ Bank chief executive Shayne Elliott says the bank will not step back from a mortgage market that is the most competitive he has seen, despite home lending becoming a far less profitable business for Australia’s banking giants. As ANZ delivered half-year results on Friday, which showed cash profits hit $3.8 billion in the six […]