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Financial Services

ANZ optimistic as profit rises

ANZ Banking Group chief executive Shayne Elliott is optimistic about prospects for the rest of the financial year after the lender lifted its first-quarter cash profit 31 per cent to $2 billion.

Medibank profit up but core business slows

Medibank Private has lifted half-year profit 1.9 per cent to $231.9 million as higher investment income offset lower returns from its core health insurance business.

WHL completes $5m RTO raising

WHL Energy has cleared the way to reinvent itself as a technology business after raising $5 million from investors ahead of its reverse takeover of Perth-based Quantify Technology.

Rubik gets $68m takeover offer

Wyllie Group-backed Viburnum is set to receive a big payout when fintech Rubik Financial, in which it is a substantial shareholder, is acquired by Geneva-based banking and finance software firm Temenos for $68 million.

CBA targets investors with rate hike

Commonwealth Bank of Australia is lifting some of its mortgage rates as it tries to rein in stubbornly high investor lending growth and keep on the right side of the regulator.

Rocke moves to Cor Cordis

KordaMentha managing partner Cliff Rocke has taken on a new role, joining the Perth office of the advisory firm that is handling the collapse of residential construction group Builton.

Passionate choice as Bransby leaves HBF

Given the passion Rob Bransby feels for healthcare, it is hard to believe he is willingly stepping down from his CEO role at HBF.

Macquarie on track for another $2bn profit

Macquarie Group remains on course for a full-year profit in line with last year's record $2.1 billion despite a reduced third-quarter contribution from its capital markets-facing businesses.

NAB cites challenges as earnings dip

National Australia Bank has warned it will continue to face increased funding costs and competition after first-quarter unaudited cash earnings slipped about 1 per cent to $1.6 billion

Nab, Bankwest return $40m

National Australia Bank has returned nearly $35 million to 220,000 superannuation members who were charged for advice they did not get, while Bankwest refunded more than $4.9 million in mortgage interest payments after overcharging about 10,800 offset account customers for almost a decade.

Frost damage prompts insurance offering for grain growers

A local insurance broker and a data analytics specialist have teamed up to offer grain growers the same kind of cover as energy companies and construction projects.

Poynton sets up new digs in CBD

The lure of increasingly affordable commercial rents in the CBD has drawn boutique investment advisory firm Jindalee Partners from Subiaco.

Euroz tips $13m profit

Stockbroker and funds manager Euroz has foreshadowed a strongly improved interim profit, driven mainly by the performance of Euroz Securities and the increased share prices of its listed investment companies.

Westoz, Ozgrowth to pay $4.8m dividends

Two listed investment companies controlled by Euroz Securities will pay out nearly $5 million in half-year dividends, with Westoz Investment Company announcing a 3 cent per share payout for investors while Ozgrowth will distribute 0.25 cents per share.

Banished finance broker’s appeal denied

A former Get Approved Finance broker has had his appeal denied after a tribunal backed an earlier decision to permanently ban him from the industry.

Asic bans Perth mortgage broker

The Australian Securities and Investments Commission has permanently banned a former Perth-based finance broker after finding he had engaged in misleading conduct.

Pioneer signs $100m facility

Perth-based financial services provider Pioneer Credit has signed a $100 million debt facility with Bankwest and Westpac as it seeks to continue growing its debt portfolio.

Rottnest Express partners with Westpac for UnionPay trial

Ferry operator Rottnest Express has partnered with Westpac to trial the use of a payment card that's popular with Chinese tourists, for online payment for its services to the tourist hotspot.

Asic starts proceedings against State One

The Australian Securities and Investments Commission has launched civil proceedings against Perth-based State One Stockbroking, and in a separate matter has accepted undertakings from two liquidators employed by Melsom Robson.

Asic bans Perth insurance broker

The Australian Securities and Investments Commission has permanently banned a Perth man from providing financial services after finding he had redirected $254,000 worth of clients' funds into his own accounts.

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