Fund manager GQG Partners has recorded a $228.4 million net profit for the six months ended 30 June 2026, down from a $230.2 million net profit last year.
Commonwealth Bank posted an 8% increase in statutory net profit to $10.9 billion for the year ended 30 June, as chief executive Matt Comyn flagged slowing growth and softening housing activity.
Australia’s financial sector has warned the country must innovate in order to stay competitive in a global race for capital, during an ASIC roundtable of the country’s most significant market participants.
Westpac has seen a 20% fall in mortgage applications in a single quarter following the federal budget, which proposed changes to negative gearing and the capital gains tax discount.
SpaceX has filed its Australian prospectus as it gears up for a IPO that could value the company at USD1.8 trillion ($2.52 trillion), with the company to offer shares to local retail investors.
It echoes similar moves by Westpac and Macquarie, with CBA and ANZ still reviewing their policies in the wake of the government’s negative gearing ban.
The Commonwealth Bank has followed peers and recorded a $316 million loan impairment charge as it raises provisions in response to “heightened geopolitical and macroeconomic uncertainty”.
