Latest Financial Services News

Credit Corp has reaffirmed its FY2027 earnings outlook, with the HSBC credit card run-off portfolio expected to help lift investment to a record level. Stronger US collections and continued consumer lending growth are providing additional support, although the final HSBC consideration remains unresolved.

Orion Equities will ask shareholders to approve a voluntary ASX delisting, arguing that sparse trading, concentrated ownership and annual listing costs no longer justify its quoted status. The move would leave shareholders relying on private transactions to sell their shares if the delisting proceeds.

Challenger’s board has rejected TAL Daiichi Life Australia’s indicative $11.80-per-share takeover proposal as too low to recommend, while leaving the door open to a revised offer. No binding transaction has been agreed and shareholders have no action to take at this stage.

Djerriwarrh Investments has declared a fully franked first-quarter FY27 dividend of 3.75 cents per share and is targeting the same payment for the second quarter. The second distribution remains subject to market conditions and final Board approval.

OFX’s proposed $1.00-per-share takeover by Equals has lost its exclusivity after the UK bidder failed to reconfirm its proposal by the agreed deadline. Meanwhile, quarterly net operating income improved sequentially but remained well below the prior year, with enterprise revenue falling sharply and available cash declining.

Beforepay has opened FY27 with record quarterly revenue of A$16.5 million and Cash NPAT of A$5.7 million, while total advances reached A$264.7 million. The stronger result came alongside higher net bad debts and a new A$100 million funding facility that was only partly drawn at quarter-end.

N1 Holdings reported a sharp rise in first-quarter revenue and customer cash receipts, while expanding its accessible lending capacity to approximately $402 million. The growth came alongside a $5.39 million operating cash outflow and heightened scrutiny of Australia’s private credit sector.

Steadfast Group’s proposed takeover has cleared a key procedural hurdle, with the Supreme Court of New South Wales approving the shareholder meeting and distribution of the Scheme Booklet. An independent expert says the deal is in shareholders’ best interests in the absence of a superior proposal.

Whitefield Income more than doubled FY2026 profit to $16 million while raising $187 million and maintaining fully franked monthly dividends. Yet net asset backing per share slipped to $1.23 as investment revaluations weighed on equity.

Wisr has raised its FY27 Cash NPAT guidance by 40% to at least $7 million after record quarterly loan originations lifted its book beyond $1.2 billion. Credit metrics improved alongside the expansion, although net interest margin narrowed as secured vehicle lending became a larger part of the portfolio.

Generation Development Group started FY27 with group funds under management up 29% to $48.1 billion, led by record quarterly inflows at Generation Life and resilient growth at Evidentia. The update also points to new commercial opportunities for Lonsec in investment governance, although it contains no earnings or cash flow figures.

Harmoney has reaffirmed its A$16 million-plus FY27 Cash NPAT target after growing its loan book 9% to A$912 million. The new Australian intermediary channel generated A$7 million in loans within two months, while credit quality and margins remained stable.