Latest Banking News

Vulcan Steel’s 1H FY25 results reveal a steep decline in profitability amid tough economic conditions, yet the company signals cautious optimism for a market rebound in 2025.

Vulcan Steel Limited reported a 12.6% revenue decline and a 64.8% drop in net profit for the first half of FY25 amid challenging market conditions. Despite this, the company achieved a 10% return on capital employed and is positioning itself for growth as economic recovery signs emerge.

Vulcan Steel Limited reported a challenging first half of FY25 with significant declines in revenue, EBITDA, and net profit, yet maintained a solid 10% return on capital employed and declared a cautious interim dividend.

Auswide Bank Ltd's shares have been suspended from trading following court approval of its acquisition by MyState Bank Limited, marking a significant consolidation in the Australian retail banking sector.

JPMorgan Asset Management has announced estimated cash distributions for its Global Equity Premium Income ETFs for February 2025, alongside a detailed timetable for investors to follow.

Sarytogan Graphite Limited has received A$2.36 million from the EBRD as part of a second tranche equity investment, boosting the bank’s stake to 17.3%. An independent peer review affirms the project’s promise while highlighting manageable risks.

Auswide Bank’s acquisition by MyState Bank has reached a key milestone with the scheme of arrangement now legally effective, triggering a suspension of Auswide’s shares and setting the stage for shareholder transitions.

Scentre Group has announced an estimated ordinary dividend of AUD 0.086 per security, payable in late February 2025, signaling steady returns ahead of its full-year financial results.

PM Capital Global Opportunities Fund Limited has announced a fully franked ordinary dividend of AUD 0.055 per security for the half-year ending December 2024, offering shareholders a Dividend Reinvestment Plan option.

Flagship Investments Limited posted a solid 9.1% gain in its investment portfolio for the half-year ending December 2024, despite a notable decline in total comprehensive income. The company declared a fully franked interim dividend of 5.1 cents per share, reflecting steady shareholder returns.

The Supreme Court of New South Wales has approved MyState Bank’s acquisition of Auswide Bank via a scheme of arrangement, setting the stage for a significant consolidation in the Australian banking sector.

Hartshead Resources has submitted a development programme and budget to the P2607 Joint Venture, proposing a new gas export route through CalEnergy’s Saturn Banks pipeline, promising reduced capital expenditure and accelerated production timelines.