AMP Bank

Macquarie axes family guarantees, SMSF investment loans

Macquarie axes family guarantees, SMSF investment loans

Some loans, such as using equity in a residential property to raise money for a small business, are under closer scrutiny as property prices continue to slide and small businesses, particularly in retail and building, are under growing financial pressure.AMP and CBA, the nation’s largest lender, both pulled out of SMSF lending last year amid…


AMP’s new CEO has something on build on

AMP’s new CEO has something on build on

These numbers bring back memories of 2016 when AMP’s wealth protection business lost $415 million and experience losses in AMP Life hit $105 million. At that time then CEO Craig Meller tightened all the assumptions underpinning the life book and recorded $485 million in capitalised losses.The second half of 2018 was a horror period for…


Time for regional banks like Bendigo to stop whinging

Time for regional banks like Bendigo to stop whinging

“While our strategy to reduce complexity, invest in capability and tell our story has delivered solid results and strong growth in customer numbers, the lack of fair competition in Australian banking continues to inhibit true customer choice,” she said.Baker called out weaknesses in the Hayne royal commission.”Whilst the royal commission final report makes strong industry-wide…