Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
Improved outlook for listed lender

Improved outlook for listed lender

An ASX-listed bank has confirmed that Standard and Poor's has affirmed its BBB rating, improving its outlook from stable to positive.

According to Standard and Poor's, the revised outlook reflects MyState Bank’s improving asset quality.

The ‘BBB’ long-term credit rating on MyState Bank reflects the bank’s strong capital position and its focus on low-risk residential mortgages.

Advertisement
Advertisement

MyState Bank Limited trades through its banking brands MyState Bank and The Rock.

"We are very pleased that Standard and Poor's has improved its outlook for MyState Bank while affirming its rating,” MyState managing director Melos Sulicich said.

“We have prudently increased our loan book while maintaining high loan quality, changing our product offerings to minimise risk.

“Credit quality remains a cornerstone of our business as we continue to diversify our asset base.”

[Related: MyState launches fourth RMBS issue]

Improved outlook for listed lender
mortgagebusiness

 

Latest News

ASIC has defended the utility of its responsible lending guidance amid court rulings that have called into question current compliance prac...

Super fund-owned bank ME has reported a 7.3 per cent growth in its loan book but continues to see net interest margin hit by “intense comp...

The corporate watchdog has reportedly expressed support for a new inquiry into competition in the financial services sector. ...

FROM THE WEB
podcast

LATEST PODCAST: New lending launches

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.