Six in 10 Australians say their mood negatively impacts their savings habits

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Boredom and ‘bad days’ are among the biggest savings roadblocks for Australians, along with social media influencers, peer pressure from friends, and Buy Now, Pay Later services according to new research by MyState Bank. MyState Bank research revealed Australia is a nation of emotional spenders, with 62% of Australians saying their emotional state, such as […]

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MyState Bank cuts home loan interest rates

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In response to the Reserve Bank of Australia’s (RBA) cash rate decision, MyState Bank has today announced a decrease to home loan interest rates of 20 basis points, effective 15 July 2019 for new loans and 29 July 2019 for existing loans. MyState Bank interest only loans will decrease by 10 basis points for both […]

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MyState grows loan book but profit down against a backdrop of external challenges

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MyState Limited has announced that net profit after tax for 1H FY19 was $14.4 million compared with $15.8 million in the pcp. Managing Director and Chief Executive Officer, Melos Sulicich, said: “The lower result reflected higher funding costs as well as investment to deliver a new platform that will facilitate growth of the funds management […]

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MyState Bank moves to Comprehensive Credit Reporting

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MyState Bank will be in a better position to match customers with the right type of product for their specific credit situation, after the nation-wide bank today announced it has become one of the first banks in Australia to be fully compliant with Comprehensive Credit Reporting (CCR) obligations. Under the CCR regime, positive credit history, […]

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MyState calls for regulation changes to encourage bank competition

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MyState Limited reported a net profit after tax of $31.5 million for the year ended 30 June 2018, up 4.6% on the year before. This strong result was supported by benefits from its investment in digitisation which have improved services for customers, as well as by productivity gains and cost management. Speaking at the company’s […]

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MyState delivers high quality result

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MyState Limited has announced net profit after tax of $31.5 million, up 4.6% compared to the previous corresponding period. Earnings per share were 34.97 cents, up 0.93 cents per share (+2.7%). The Board declared a final dividend of 14.5 cents per share, fully franked, consistent with the previous year and payable on 25 September 2018 […]

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Borrowers favour smaller lenders, according to mortgage broker survey

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Larger banks are falling out of favour among homeowners seeking mortgages, according to the latest MyState Bank survey of its national broker network. In the survey, completed in last week of July, 70% of respondents reported they had noticed an increase in the number of clients asking for loan options from a smaller bank. Of […]

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Mortgage brokers anticipate more business will go to smaller lenders

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An overwhelming proportion of mortgage brokers anticipate selling more home loans from smaller and regional banks to their clients this year, according to the latest MyState Bank survey of its national broker network. Respondent brokers said this was because smaller and regional banks had become as competitive as large banks and provided high levels of […]

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Brokers split on digital platforms vs face-to-face service

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More than half of mortgage brokers are not concerned about increased competition from online broking platforms according to the latest MyState Bank survey of its national broker network. Nevertheless, almost a third of respondents are seeking to improve the digital capabilities of their businesses. More than 47% of brokers surveyed by MyState said that in […]

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How to teach kids good financial habits

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It can be tough knowing the right way to teach kids about money and how it works when finance and payments is such a rapidly changing area. The increasingly digital nature of money means that it’s no longer appropriate just to give a child a piggy bank and pocket money as the main financial lesson […]

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