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

The banking sector has collectively recorded a sharp year-on-year contraction in new home loan settlements in light of tighter credit condit...

The ABA has launched a consultation on formulating a new guideline for how banks deal with vulnerable customers. ...

Buying a house is viewed as less feasible than starting a business by Millennials, who still aspire to own a home, a new study has found. ...

FROM THE WEB
podcast

LATEST PODCAST: Coalition government and CBA delays

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?