National Australia Bank Ltd.’s next chief executive officer Andrew Thorburn said he aims to cut the lender’s exposure to U.K. commercial property and focus on Australia and New Zealand when he takes the helm in August.
QBE Insurance Group Ltd., Australia’s second-largest insurer by market value, climbed to its highest level in more than two months on plans to increase premium rates and bring its North American unit back to profit this year.
Australia & New Zealand Banking Group Ltd., Australia’s third-largest bank by market value, said its first-quarter cash profit climbed 13 percent from a year earlier on higher lending and lower bad-debt charges.
Australia & New Zealand Banking Group Ltd., the country’s third-largest lender by market value, posted a 13 percent rise in second-half cash profit on higher lending and lower costs, sending its shares to an all-time high.
Australia & New Zealand Banking Group Ltd., the fastest-growing mortgage lender in October, plans to offer bigger discounts to expand market share in the nation’s largest state economy, New South Wales.