Latest Banking News

Heartland Group Holdings delivered a striking 140% jump in net profit for FY2026, underpinned by margin gains and asset quality improvements, while advancing a transformative merger with TSB to create a major New Zealand challenger bank.

Bendigo and Adelaide Bank is embarking on a three-year, $70 million program to fix significant non-financial risk management weaknesses flagged by APRA, while reporting a $375 million statutory profit for FY26 impacted by rectification provisions and legal penalties.

Judo Bank posted a 34% rise in profit before tax to $168 million for FY26, driven by robust loan book growth and operating leverage, despite increased impairment expenses.

National Australia Bank’s June quarter cash earnings edged up 2% excluding a large notable item, supported by lower credit impairments and steady business lending growth despite rising costs and economic headwinds.

ANZ posted a 3Q26 cash profit of AUD 1.90 billion, modestly up on the half-year quarterly average despite a NZD125 million legal provision. The bank’s capital position strengthened, and strategic integration efforts progress on schedule.

Commonwealth Bank of Australia delivered a solid FY26 with 7% growth in net profit and a strong capital position, while continuing investments in AI and customer protection.

BNK Banking Corporation is set to book a $3.5 million non-cash goodwill impairment in its FY2026 results, fully writing off its remaining goodwill but leaving capital ratios and cash flow untouched.

Bank of Queensland announces a $295 million capital return combining a fully franked 15-cent special dividend and a $196 million on-market buy-back following the sale of its equipment finance portfolio and completion of ME digital migration.

Westpac Banking Corporation reported a 3% increase in statutory net profit to $1.8 billion in Q3 2026, supported by loan and deposit growth alongside stable capital ratios and ongoing transformation efforts.

A New Zealand community group has filed a court application to halt the Toi Foundation trustees from voting on the sale of TSB Bank to Heartland, potentially complicating the merger timeline.

Westpac has completed the $15.4 billion sale of its RAMS mortgage portfolio to a consortium including Pepper Money, KKR, and PIMCO, lifting its capital ratio and simplifying operations.

HSBC Bank Australia is selling its AUD36 billion home and personal loan portfolio to Blackstone affiliates, marking a significant step in winding down its Australian retail banking operations. The deal awaits regulatory approvals and is expected to close in early 2027.