Financial Services

Peppermint in deal with Philippines bank

Recently-listed technology company Peppermint Innovation will supply its remittance system to a bank based in the Philippines under a new partnership deal.

Vale Shane Gherbaz

Former stockbroker and the founding managing director of Euroz, Shane Gherbaz, has passed away after a battle with illness.

Pioneer Credit delivers record results

Financial services provider Pioneer Credit has boasted a record year of growth, with increases in revenue, net profit and customer numbers.

Medibank profit soars

Medibank Private's annual profit has risen by 46.4 per cent to $417.6 million, but the health insurer says it needs to offer better value to customers.

QBE shares drop on guidance revision

QBE Insurance Group shares have dropped as much as 11.5 per cent after the insurer downgraded its full-year gross written premium guidance, citing pressure on product pricing and the value of its investments following a sharp drop in first-half profit.

Otsana sets up shop in Israel

West Perth-based advisory firm Otsana Capital has established an office in Israel to work closer with startups in the region seeking a presence on the ASX.

CBA CEO's pay surges to $12.3m

Commonwealth Bank of Australia chief executive Ian Narev took home $12.3 million in total pay in the last financial year, up more than 50 per cent due to performance-related share bonuses.

Westpac shares dip as stressed assets rise

Westpac shares have dropped almost three per cent after the bank followed its rivals in reporting an increase in doubtful debts over the third quarter.

CBA flags concerns despite $9.4bn profit

Commonwealth Bank of Australia chief executive Ian Narev has cited weak wages growth and political uncertainty as threats to Australia's economy, even as the country's biggest bank unveiled a seventh straight record profit of $9.45 billion.

ANZ cash profit slips 3%

ANZ Banking Group's cash profit has slipped 3 per cent in the first nine months of its financial year, weighed down by restructuring charges and bad debts.

NAB boss defends slim mortgage rate cut

National Australia Bank chief executive Andrew Thorburn will tell a parliamentary committee that his bank had to balance the needs of borrowers, savers, investors and shareholders when it decided not to pass on in full the Reserve Bank's latest rate cut.

Pennells launches new venture

Mortgage broking pioneer Greg Pennells has launched a new venture that will partner with Choice Aggregation Services, a company he sold for $163 million in 2007.

ThinkSmart to drop ASX listing for AIM

Point-of-sale financing group ThinkSmart has announced plans to undertake an $8.8 million capital raising, delist from the ASX and jump over to London's AIM.

RESIMAC to take over Homeloans

An investment group led by Sydney-based Duncan Saville is set to gain control of Homeloans, after the Perth-founded mortgage lender struck a takeover deal with competitor RESIMAC.

Lithium, gold stocks lift deal flow

SPECIAL REPORT: Lithium stocks led by Pilbara Minerals and Galaxy Resources have seized the opportunities presented by the commodity's surge.

Gold stocks emerge as top 30 force

SPECIAL REPORT: The dramatic rise and fall of iron ore producers and the recent surge in gold and lithium stocks have been highlighted by a historic review of WA's major listed companies.

‘Speculative’ mining stocks head a varied field of performers

SPECIAL REPORT: Mining stocks are again leading the way in shareholder returns, but this time it's not the iron ore players doing the business.

EBM boss confident of growth in tough market

Alan Bishop has spent 40 years building insurance broker EBM into a national player and worked through many business cycles over that time, but arguably none as tough as the current conditions in Western Australia.

Tough medicine taken for trying times

SPECIAL REPORT: WA's economic slowdown hasn't led to the dramatic rise in insolvencies many had expected, according to leading industry representatives.

Stargroup buys competitor, raises funds

Perth-based ATM machine supplier Stargroup has expanded its network with the acquisition of CashmyATM in a scrip and cash deal worth $4.5 million.