Cuscal IPO priced - Banking Day
The upcoming initial public offer of Cuscal Limited will be priced at $2.50 a share, Bell Direct, one of the sponsoring brokers said. This will give the specialist B2B payments bank an implied market capitalisation of $514 million.
International Bank of Australia walks away - Banking Day
No surprises. Another neobank bites the dust, this time, International Bank of Australia, which was weeks away from the deadline to progress to a full licence.
Beyond red-faced in merger breakdown - bankingday.com
The board of P&N Bank have elected not to proceed with a proposed merger with Beyond Bank Australia. Police & Nurses Limited “has concluded its due diligence on the potential merger with Beyond Bank announced in June 2024 and has decided not to proceed” P&N announced in a bombshell statement to members yesterday morning.
CBA and FSU agree on 13% pay deal - Banking Day
Commonwealth Bank and the Finance Sector Union have reached an in-principle agreement over an improved Enterprise Agreement, including a sector-leading pay rise.
Banking Day
ANZ shareholders approved a restructuring of the bank at a scheme meeting yesterday, which will see the group’s banking and non-banking business split into two separate companies.
MacBank to terminate telephone banking, cash deposits and …
The war on cash and cheques at Australian banks is about to intensify with two of the country’s leading deposit takers – Macquarie and CBA - flagging new measures to manoeuvre customers away from analogue methods of banking.
ANZ settles class action - Banking Day
ANZ will pay A$57.5 million as part of the settlement of a class action brought against it in 2021 over interest charges on credit cards. Acting for the representative applicant, law firm Phi Finney McDonald claimed that between 2010 and 2018 the bank charged interest retrospectively on credit card accounts that previously had an interest free period.
Banking Day
Oct 14, 2014 · Payment services company Cuscal will introduce non-mutual shareholders with material stakes as a result of its planned all scrip acquisition of Strategic Payments Services.Bendigo Bank and MasterCard will each take an approximate ten per cent stake of the final combined entity if the deal is approved, Cuscal said yesterday.Bendigo recorded a carrying value for its 47.5 per cent holding in SPS ...
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4 days ago · Ian Rogers; Investors will be asking the board and management of Axiom Properties why it failed to disclose its heavy loss in the Supreme Court of NSW three weeks ago, in a case in which the fintech founder Luke..
New CEO says Judo ready for diversification - Banking Day
New Judo Bank chief executive Chris Bayliss made his first public appearance in the role yesterday, announcing a couple of senior appointments and providing a broad outline of his plans for the bank’s development.