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Commonwealth Bank rejects industry compensation pool for bad advice victims
2015-08-12 15:24:03| Automakers - Topix.net
CBA chief executive Ian Narev said the drop in retail life insurance sales can be traced back to stiffening competition in the life sector. Commonwealth Bank of Australia has refused to back an industry-wide compensation scheme of last resort for victims of financial planning disasters, as the bank's wealth arm continues to grapple with the fallout of its own advice scandals.
Tags: bad
industry
advice
bank
Commonwealth Bank posts record $9.14b profit, seeks to raise $5b
2015-08-12 02:47:34| Automakers - Topix.net
Commonwealth Bank of Australia has launched a $5 billion rights issue to boost capital in response to regulatory pressure and has posted a full-year cash profit of $9.14 billion, up 5 per cent and the largest-ever profit by an Australian bank. CBA shares are in a trading halt ahead of the raising, which will boost CBA's closely watched common equity tier 1 capital ratio to 10.4 per cent, lifting it back to the top of the big bank pack.
Tags: posts
record
bank
profit
Co-op Bank escapes regulatory fine
2015-08-11 09:24:13| BBC News | Business | UK Edition
The Co-operative Bank has escaped a fine from regulators who were investigating its "failings" during 2009-13.
Tags: fine
bank
regulatory
coop
World Bank OKs Loan Guarantees for Ghana Gas Project
2015-08-10 20:40:45| ENR.com: Headline News
Bank to provide a record $700 million in guarantees for $4-billion Eni-Vitoil Sankofa project.
Bank faces extra hit for mis-selling
2015-08-10 14:33:12| BBC News | Business | UK Edition
Clydesdale Bank is to set aside as much as 500m in extra funding to compensate customers for mis-selling of financial products.
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