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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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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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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Customer focus lifts MyState

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MyState Limited, the banking and wealth management group, has announced 1H FY18 net profit after tax of $15.8 million, a 4.0% increase on the previous corresponding period. Net profit before tax was $22.6 million, up 7.7%. Earnings per share increased to 17.6 cents per share (cps) from 17.3 cps in the previous corresponding period, up […]

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MyState calls for action to promote banking competition  

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Speaking at yesterday’s MyState Limited annual general meeting MyState Chairman Miles Hampton and MyState Managing Director and Chief Executive Officer Melos Sulicich called on the government to address four factors which reduced effective competition and reinforced the dominance of the major banks. Mr Hampton said that effective competition would benefit consumers through improved choice  and greater […]

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