Perth-based financial services group Home Building Society Ltd has been awarded a BBB long-term credit rating by Standard & Poor's, with the ratings agency approving of its strong asset quality and good risk management.
Former Statewest Credit Society Ltd shareholders have made $45.4 million through the sale of 3.3 million shares in Home Building Society Ltd, following the merger of the two groups late last month.
With the StateWest Credit Society Ltd and Home Building Society Ltd merger finally taking place after several setbacks, stockbroker Euroz Securities will have around $45 million worth of Home shares to sell.
More than 20 per cent of StateWest Credit Society Ltd members have opted to cash in on its demutualisation and merger with Home Building Society Ltd, taking money instead of shares after a vote approved the deal.
StateWest Credit Society has released its scheme documentation, the next step towards the merger with Western Australian financial services group Home Building Society Ltd.
STATEWEST Credit Society members have voted for demutualisation for the second time, as part of a re-run of its proposed merger with Home Building Society Ltd.
StateWest Credit Society members have voted for demutualisation for the second time as part of a rerun of its proposed merger with Home Building Society Ltd.
THE merger between StateWest Credit Society and Home Building Society is progressing, with a disclosure statement and postal voting ballot seeking approval for the second demutualisation of StateWest
StateWest Credit Society Ltd announced its results for the half-year ending December 31 2005, with an after tax profit of $473,000 recorded on revenues of $18.8 million.
United Credit Union Ltd has confirmed that it paid the legal fees of objectors to StateWest Credit Society Ltd's demutualisation, saying it did so with the interests of the industry in mind.
STATEWEST Credit Society members have voted in favour of demutualisating their institution, paving the way for the proposed merger with listed suitor Home Building Society.
StateWest Credit Society members have voted in favour of demutualisating their institution, paving the way for the proposed merger with listed suitor Home Building Scoiety Ltd.
THERE is some information in the disclosure statement issued by StateWest that I believe suggests Home Building Society is the same kind of entity as a mutual like StateWest. It is not.
Stockbroking firms expect branch closures and operating synergies will enable Home Building Society to achieve strong profit growth following its planned merger with StateWest Credit Society.
Home Building Society will merge with StateWest Credit Society, pending shareholder, member and regulator approval, to create an organisation with more than 110,000 customers and total customer funds under management of $3.5 billion.
StateWest Credit Society, the State's third largest non-bank lender, has reported a 49 per cent increase in underlying profit for the year to June 2004
