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In the Financial Services Daily News Wrap for Thursday, November 13th, 2025, key updates from the Australian financial sector were shared. ANZ Bank's new CEO, Nuno Matos, announced a strategic overhaul, eliminating around 4,500 roles to focus on digital transformation, costing A$560 million. In legal news, telecommunications company Optus received a landmark ruling, fined AU$100 million for exploiting vulnerable Australians. Westpac reported a slight decrease in its annual returns, with mortgage market competition and a slight dip in net interest margin cited as reasons. However, a divestiture of its A$21.4 billion RAMS mortgage portfolio is planned. The Reserve Bank of Australia maintained the cash rate at 3.60%, despite rising inflation and unemployment reported, suggesting a steady but challenging economic landscape. It's recommended for borrowers to seek financial advice during these changeable times.n
