Latest Banking Sector News

Bendigo and Adelaide Bank has been hit with a $50 million operational risk capital charge by APRA, while AUSTRAC launches an enforcement investigation into serious AML/CTF breaches. The bank commits to intensifying risk management efforts amid regulatory scrutiny.

Bendigo and Adelaide Bank has revealed systemic deficiencies in its anti-money laundering and counter-terrorism financing controls following a Deloitte investigation, committing to comprehensive remediation efforts.

Lloyds Banking Group is set to acquire London-based fintech Curve, aiming to enhance its mobile banking with advanced digital wallet features. The deal, expected to close in early 2026, marks a strategic push in Lloyds’ digital transformation journey.

RocketBoots Limited has successfully converted its AI-powered retail banking trial into a contract rollout with a major Australian bank, marking a significant step in its commercial expansion.

Urbanise.com Limited has secured a landmark partnership with National Australia Bank to integrate banking services into its cloud-based strata management platform, marking a pivotal step in modernising an industry long reliant on legacy systems.

Virgin Money UK, trading as Clydesdale Bank, has applied to the High Court for approval to transfer its entire banking business to Nationwide Building Society, pending a February 2026 hearing.

RocketBoots Limited has renewed its pivotal contract with a major Australian retailer, extending an eight-year partnership and securing upfront cash payments. The company also anticipates additional inflows from banking sector pilots and R&D tax incentives, underpinning its growth trajectory.

Bank of Queensland announces a $170 million goodwill impairment in its retail banking unit for FY25, reflecting structural industry changes but maintaining strong cash earnings and capital ratios.

Judo Bank has successfully priced a $150 million Tier 2 subordinated notes issuance with a significantly tighter margin, reflecting its strengthened credit profile and strong investor demand.

Bendigo and Adelaide Bank has updated its dividend distribution details for the financial year ending June 2025, confirming a fully franked dividend of AUD 0.33 per share and clarifying its Dividend Reinvestment Plan arrangements.

BSP Financial Group reveals the Papua New Guinea Government’s plan to shift accounts to a new state-owned bank, potentially denting BSP’s profits. The bank is evaluating the full impact and possible responses.

Kina Securities Limited reported a robust 37% jump in statutory net profit after tax for the half year ended June 2025, driven by solid revenue growth and expanding loan portfolios. The bank also declared a higher interim dividend, reflecting confidence in its financial strength.