Banking 5 May 2026 - 12 May 2026

Commonwealth Bank shares slide as budget housing risk hits a richly priced bank
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Commonwealth Bank shares slide as budget housing risk hits a richly priced bank

Commonwealth Bank of Australia shares fell 1.40% to A$171.57 on Tuesday, extending a three-day slide as investors reacted to federal budget changes restricting negative gearing and altering capital gains tax. The selloff hit the broader banking sector, with National Australia Bank, ANZ, and Westpac also down. CBA will raise variable home-loan rates by 0.25% from May 15 after the Reserve Bank lifted its cash rate to 4.35%.
May 12, 2026
HSBC’s $400 Million Private-Credit Hit Deepens as MFS Fraud Allegations Escalate
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HSBC’s $400 Million Private-Credit Hit Deepens as MFS Fraud Allegations Escalate

Administrators for collapsed UK lender Market Financial Solutions accused owner Paresh Raja in a London lawsuit of misappropriating at least £1.3 billion. HSBC took a $400 million provision tied to MFS, with Barclays also reporting a £228 million hit. Britain’s Financial Conduct Authority opened an enforcement probe into MFS in March. Raja, currently in Dubai, denies the allegations.
May 12, 2026
Commonwealth Bank Savings Rates Rise After RBA Hike: What CBA Customers Face This Week
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Commonwealth Bank Savings Rates Rise After RBA Hike: What CBA Customers Face This Week

Commonwealth Bank of Australia will raise rates on selected savings accounts by up to 0.25 percentage point from May 15, following last week’s Reserve Bank of Australia cash rate hike to 4.35%. The bank had already announced a 0.25 percentage point increase for variable home loans. Some deposit rate increases apply only to new or bonus accounts, while existing NetBank Saver customers get a smaller rise.
May 12, 2026
Westpac Banking Corporation Warning: Borrowers Get More Time, Not Relief, as RBA Hikes Loom
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Westpac Banking Corporation Warning: Borrowers Get More Time, Not Relief, as RBA Hikes Loom

Westpac said customer spending growth slowed in the first quarter despite a surge in fuel costs, with average spend up 0.6% from the previous quarter. The bank raised variable home loan rates by 0.25% after the Reserve Bank of Australia lifted its cash rate to 4.35%. Westpac expects two more RBA hikes this year, now in August and September. Statutory net profit for the March half was A$3.4 billion, up 3% year-on-year.
May 11, 2026
Commerzbank-UniCredit Takeover Fight Moves to Brussels as German Resistance Draws ECB Fire
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Commerzbank-UniCredit Takeover Fight Moves to Brussels as German Resistance Draws ECB Fire

UniCredit CEO Andrea Orcel will meet EU officials in Brussels as the bank pursues a takeover of Commerzbank. Commerzbank has raised its 2026 profit target to at least €3.4 billion, announced €600 million in planned AI investment, and plans about 3,000 more job cuts by 2030. ECB Vice-President Luis de Guindos warned that national resistance to cross-border deals threatens EU financial integration.
May 11, 2026
Westpac Banking Corporation’s New RBA Call Points to Two More Rate Hikes
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Westpac Banking Corporation’s New RBA Call Points to Two More Rate Hikes

Westpac now expects the Reserve Bank of Australia to raise rates in August and September, not June and August, citing persistent fuel-driven inflation. The shift follows Westpac’s A$3.41 billion first-half profit miss and higher bad-debt provisions. The RBA lifted its cash rate to 4.35% on May 5, warning that fuel costs are feeding into broader inflation. Other major banks remain split on the timing of further hikes.
May 10, 2026
NAB’s Monday Deadline: National Australia Bank’s $1.8 Billion Capital Push Comes Due
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NAB’s Monday Deadline: National Australia Bank’s $1.8 Billion Capital Push Comes Due

National Australia Bank shareholders have until 5 p.m. AEST Monday to elect for the discounted dividend reinvestment plan, which aims to raise about A$1.8 billion after a weak half-year result. NAB will raise variable home-loan rates by 0.25 percentage point from May 15. Cash earnings for the half fell 26.3% to A$2.64 billion. The bank’s credit impairment charge doubled to A$706 million.
May 10, 2026
Commonwealth Bank of Australia Rate Rise Hits This Week as Borrowers Face Delayed Mortgage Pain
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Commonwealth Bank of Australia Rate Rise Hits This Week as Borrowers Face Delayed Mortgage Pain

Commonwealth Bank of Australia will raise variable home loan rates by 25 basis points on Friday, lifting its standard owner-occupier rate to 8.80%. The move follows the Reserve Bank of Australia’s cash rate hike to 4.35% and comes ahead of CBA’s quarterly trading update on May 13. Other major banks, including Westpac and NAB, will also raise mortgage rates this month. Variable business loan rates at CBA will increase from May 15.
May 10, 2026
HSBC Holdings Plc Says $400 Million Fraud Hit Is Isolated. Investors Want to Know Why.
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HSBC Holdings Plc Says $400 Million Fraud Hit Is Isolated. Investors Want to Know Why.

HSBC set aside $400 million for potential fraud losses tied to private credit loans, rattling investors and prompting a review of similar exposures, Chairman Brendan Nelson told shareholders. The provision contributed to a slip in first-quarter pretax profit to $9.4 billion. HSBC has not named the company involved. Shares in London and Hong Kong fell, while New York shares rose.
May 9, 2026
Commerzbank’s 3,000-Job Cut Bet Could Decide the UniCredit Takeover Fight
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Commerzbank’s 3,000-Job Cut Bet Could Decide the UniCredit Takeover Fight

Commerzbank will cut up to 3,000 more jobs and raised profit targets for 2026 and 2030 as it resists UniCredit’s takeover bid. UniCredit’s all-share offer values Commerzbank below its market price, and Berlin, labor leaders, and regulators have joined the dispute. UniCredit holds just under 30% of Commerzbank and seeks to cross Germany’s takeover threshold. Commerzbank reported Q1 net profit of €913 million, up 9%.
May 8, 2026
Tokyo Kiraboshi Ends ¥40 Billion New Bank Tokyo Bailout Shadow; Stock Sale Test Looms
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Tokyo Kiraboshi Ends ¥40 Billion New Bank Tokyo Bailout Shadow; Stock Sale Test Looms

Tokyo Kiraboshi Financial Group will buy back and cancel all 2 million Class II preferred shares held by the Tokyo Metropolitan Government for ¥40 billion on May 25, ending a public-funds overhang tied to former ShinGinko Tokyo two years ahead of schedule. Shares closed down 5.2%. The board approved the move Friday. A separate Sumitomo Mitsui Trust Bank share sale is pending.
May 8, 2026
HSBC Holdings Plc Wins Saudi Debt Role as $400 Million Credit Hit Shadows AGM
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HSBC Holdings Plc Wins Saudi Debt Role as $400 Million Credit Hit Shadows AGM

HSBC Holdings Plc has been named a primary dealer in Saudi Arabia’s local government debt market, the Ministry of Finance said Thursday. The move gives HSBC direct access to channel investor orders for riyal-denominated debt. Saudi sovereign debt stood at 1.519 trillion riyals at the end of 2025, with foreign ownership of riyal sukuk rising to 12.8% by September. HSBC shareholders meet for the bank’s annual general meeting in London on Friday.
May 8, 2026
Nationwide £100 Payout: Halifax Loses 25,629 Customers as UK Bank Switching Jumps 43%
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Nationwide £100 Payout: Halifax Loses 25,629 Customers as UK Bank Switching Jumps 43%

Nationwide gained a net 64,527 current-account customers in the final quarter of 2025, the largest increase among UK banks, while Halifax lost 25,629, according to Pay.UK data. Total account switches rose 43% year-on-year to 319,529 as households sought better rates and perks. Barclays and Lloyds also reported net gains. Nationwide’s growth followed cash offers and a £100 member payout.
May 6, 2026
HSBC Shares Tumble After Surprise $400 Million Private Credit Hit
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HSBC Shares Tumble After Surprise $400 Million Private Credit Hit

HSBC shares dropped 5.9% in London after the bank reported a $400 million loss tied to a fraud case involving loans to Apollo-backed Atlas SP and collapsed lender Market Financial Solutions. The loss made HSBC a major drag on the FTSE 100. Regulators are scrutinizing banks’ exposure to the $3.5 trillion private credit sector. HSBC raised its 2026 net interest income guidance but increased its expected credit loss forecast.
May 5, 2026
UK Stock Market Today: FTSE 100 Suffers Worst Day Since March as HSBC Shock Knocks Banks
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UK Stock Market Today: FTSE 100 Suffers Worst Day Since March as HSBC Shock Knocks Banks

The FTSE 100 fell 1.4% to 10,219.1 on Tuesday, its steepest drop since March, after HSBC posted a surprise $400 million loss tied to private credit exposure. Thirty-year gilt yields hit their highest since 1998 as energy prices and political uncertainty pushed borrowing costs higher. HSBC shares slid 5.9%, with other major UK banks also losing ground. Brent crude fell 3% but remained near $111 a barrel.
May 5, 2026
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