News Articles for Australian Finance Group

Shares in Australian Finance Group have doubled in value this year as the Perth company benefits from the increased market share held by brokers in a growing housing loan market.

Australian Finance Group has announced its first two equity investments in broker businesses following its November move to offer its networks growth-enabling finance.

Australian Finance Group has announced it is offering to take a non-controlling equity stake across its network of mortgage broking businesses.

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WA mortgage broker Australian Finance Group is set to pay up to $70 million for asset finance aggregator Fintelligence, adding another 285 brokers and $1.1 billion in projected settlements to its books.

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Only a handful of Perth-based companies outside the resources sector have built truly national or global operations.

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Mortgage lender Australian Finance Group has posted an underlying profit of $36.3 million for the full financial year on the back of rising residential settlements.

Australia's competition regulator says it will not oppose a planned merger between mortgage aggregators Australian Finance Group and Connective, despite holding previous concerns around competition.

Australian Finance Group has announced a capital raising to strengthen its financial position ahead of an expected softening of the housing loan market and to support the growth of its subsidiary AFG Securities.

Australian Finance Group has reported a 20 per cent rise in first-half net profit to $17.7 million, sending its shares 10 per cent higher at the market close today.

Australia's consumer watchdog has raised concerns over the proposed acquisition of mortgage aggregator Connective by Perth-based Australian Finance Group, as the merged group will have nearly 40 per cent market share.

Our comprehensive annual survey of chief executive remuneration shows wide variation across companies.

Two Australian Finance Group founders have sold shares worth about $27.6 million, about 5 per cent of the company, as they plan to diversify their portfolios.

The Australian Securities and Investment Commission announced today it has banned Element Finance Group director Tim Zheng from engaging in credit activities for at least three years.

Housing finance provider Australian Finance Group says lending for homes in the first quarter of the 2020 financial year in Western Australia has rebounded from record low levels to reach its highest figure since the end of the 2017 fiscal year.

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Australian Finance Group has posted a 0.8 per cent decrease in net profit, but is optimistic about its future following the federal election result earlier this year.

Australian Finance Group has signed a binding agreement to acquire Melbourne-based Connective Group in a cash-and-scrip deal worth around $120 million that will create an entity with over 6,575 brokers.

Housing finance provider Australian Finance Group says lending for homes in the first three months of 2019 in Western Australia has plunged to the lowest level since it began tracking mortgage values in mid-2012.

Mortgage brokers will continue receiving trail commissions beyond 2020 under a federal coalition government, with Treasurer Josh Frydenberg revealing a plan to scrap them has been dropped.

Australian Finance Group has announced a cash profit increase, and said there were encouraging signs for the future of the mortgage broking industry.

Shares in Perth-based Australian Finance Group and in ASX-listed Mortgage Choice plunged today on concerns the mortgage broking sector will be one of the biggest losers from the banking royal commission, which recommended the banning of commissions paid by lenders to brokers.

Perth-based digital agency Firefly360 has boosted staff numbers in preparation for an increase in work next year, adding three experienced members to its team.

Tungsten Mining has announced a placement to sophisticated and institutional investors to raise approximately $20 million.

West Perth-based Australian Finance Group has announced it will purchase a 30.4 per cent stake of Sydney-based commercial property lender Think Tank Group for $10.9 million.

A major eastern states hospitality group with deep pockets has just purchased its fourth venue in WA as part of a broader strategy to rapidly grow its presence in the west.

Australian Finance Group announced today its net profit for the current financial year would come in nearly 45 per cent higher than consensus forecasts, after a change in the way its treated certain commission income.

CFOAM, manufacturer of inorganic carbon material, has appointed Todd Hoare as interim non-executive director.

Australian Finance Group has decided to keep its interim chief executive in the role on a permanent basis, after Brett McKeon stepped down in March.

Australian Finance Group chief executive Brett McKeon will step aside after 23 years at the helm of the mortgage broker, after leading the company from its founding to an IPO in 2015 and winning the 2006 EY Entrepreneur of the Year Award for WA.

Changes at Amana Living's helm highlight the different circumstances facing each sector of the economy.