COVID-19 prompts spike in online banking, says MyState Bank

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MyState Bank customers are embracing digital banking and contactless payment technologies as a substitute for cash during the COVID-19 (Coronavirus) emergency. Recent data from MyState Bank reveals a significant shift in payment habits as customers become increasingly comfortable with card-based transactions and online banking. The share of overall transactions, comprised of ATM usage and cash […]

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MyState CEO to stay on

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MyState Limited (ASX:MYS), the Tasmanian based banking and wealth management group, has announced that Managing Director and Chief Executive Officer, Melos Sulicich, who was due to leave the company at the end of June 2020, has agreed to extend his employment contract. Chairman of MyState Limited, Miles Hampton, said the Board had come to the […]

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MyState group moves to protect customers and employees

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MyState Limited, the banking and wealth management group, has advised that it has taken action to protect customers and employees in light of the coronavirus situation. Managing Director and CEO, Melos Sulicich, said: “We’ve prioritised the health and wellbeing of our customers and employees, introducing a range of measures to reduce the risk of contracting or […]

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MyState launches new managed fund platform

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MyState Limited (ASX:MYS), the banking and wealth management group, today announced that its wealth management business, TPT Wealth, has launched a new platform providing managed fund investors with national digital services. MyState’s Managing Director and CEO, Melos Sulicich, said, “We are modernising wealth services for managed fund investors as part of a multi-year ongoing investment […]

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MyState appoints interim CFO

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MyState Limited (ASX:MYS), the banking and wealth management group, today announced the appointment of Mr Gary Dickson as Interim CFO. Mr Dickson will commence with MyState on Monday 7 October and assume responsibility as Interim CFO on Friday 19 October. Mr Dickson brings with him over 25 years of experience in a variety of financial […]

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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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Fiducian Group to acquire MyState’s financial planning business

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MyState Limited (ASX: MYS) announced yesterday that it has entered into a sale agreement with Fiducian Group Limited (ASX: FID) for the acquisition of MyState’s retail financial planning business in Tasmania. Under the agreement, Fiducian will pay approximately $3.5 million to acquire the MyState financial planning client book with more than $340 million in funds […]

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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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